Royce & Associates LP boosted its stake in shares of Flex Pharma, Inc. (NASDAQ:FLKS) by 29.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 312,410 shares of the biotechnology company’s stock after purchasing an additional 70,210 shares during the quarter. Royce & Associates LP owned about 1.82% of Flex Pharma worth $1,203,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Flex Pharma during the second quarter worth $104,000. Bank of New York Mellon Corp boosted its position in Flex Pharma by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 487 shares during the period. Spark Investment Management LLC bought a new position in Flex Pharma during the first quarter worth $223,000. Finally, Primecap Management Co. CA boosted its position in Flex Pharma by 36.0% during the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock worth $6,480,000 after purchasing an additional 390,200 shares during the period. 27.74% of the stock is owned by hedge funds and other institutional investors.

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Flex Pharma, Inc. (FLKS) opened at 3.47 on Friday. The firm’s 50-day moving average is $3.47 and its 200-day moving average is $3.76. The company’s market capitalization is $59.98 million. Flex Pharma, Inc. has a 52-week low of $3.28 and a 52-week high of $12.07.

Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. The firm had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.46 million. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. On average, equities research analysts forecast that Flex Pharma, Inc. will post ($2.34) EPS for the current year.

A number of research firms have commented on FLKS. Zacks Investment Research raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Roth Capital began coverage on shares of Flex Pharma in a research report on Thursday, September 7th. They set a “buy” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.17.

Flex Pharma Profile

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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Institutional Ownership by Quarter for Flex Pharma (NASDAQ:FLKS)

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