Cantor Fitzgerald Weighs in on Flex Pharma, Inc.’s FY2017 Earnings (FLKS)
Flex Pharma, Inc. (NASDAQ:FLKS) – Cantor Fitzgerald raised their FY2017 earnings per share (EPS) estimates for Flex Pharma in a report issued on Tuesday. Cantor Fitzgerald analyst M. Goldstein now expects that the biotechnology company will post earnings of ($2.15) per share for the year, up from their previous estimate of ($2.18). Cantor Fitzgerald also issued estimates for Flex Pharma’s FY2018 earnings at ($1.96) EPS.
Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.46 million. ILLEGAL ACTIVITY WARNING: “Cantor Fitzgerald Weighs in on Flex Pharma, Inc.’s FY2017 Earnings (FLKS)” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://www.dailypolitical.com/2017/08/10/cantor-fitzgerald-weighs-in-on-flex-pharma-inc-s-fy2017-earnings-flks.html.
FLKS has been the topic of several other research reports. Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Group LLC cut their price objective on Flex Pharma from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 4th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Flex Pharma has a consensus rating of “Buy” and a consensus price target of $15.40.
Flex Pharma (NASDAQ FLKS) opened at 3.35 on Thursday. The stock’s market cap is $57.38 million. The stock has a 50 day moving average price of $3.90 and a 200-day moving average price of $3.93. Flex Pharma has a 12-month low of $3.01 and a 12-month high of $12.68.
A number of hedge funds have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in shares of Flex Pharma during the second quarter valued at about $104,000. Bank of New York Mellon Corp raised its position in Flex Pharma by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 487 shares during the period. Spark Investment Management LLC bought a new position in Flex Pharma during the first quarter valued at approximately $223,000. Royce & Associates LP raised its position in Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock valued at $1,066,000 after buying an additional 174,000 shares during the period. Finally, C WorldWide Group Holding A S raised its position in Flex Pharma by 11.2% in the first quarter. C WorldWide Group Holding A S now owns 278,060 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 28,060 shares during the period. Hedge funds and other institutional investors own 29.17% of the company’s stock.
About Flex Pharma
Flex Pharma, Inc is a biotechnology company. The Company develops treatments for nocturnal leg cramps, muscle cramps and spasms associated with severe neuromuscular conditions, and exercise associated muscle cramps (EAMCs). The Company’s product candidates activate certain receptors in primary sensory neurons, which then act through neuronal circuits to reduce the repetitive firing, or hyperexcitability, of alpha-motor neurons in the spinal cord, thereby preventing or reducing the frequency and intensity of muscle cramps and spasms.
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