Flex Pharma, Inc. (FLKS) Receives $16.80 Consensus Price Target from Analysts
Flex Pharma, Inc. (NASDAQ:FLKS) has earned an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.80.
FLKS has been the topic of several research reports. Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Roth Capital initiated coverage on Flex Pharma in a research note on Thursday, September 7th. They set a “buy” rating and a $14.00 target price on the stock.
Shares of Flex Pharma (FLKS) traded down 0.29% during trading on Friday, hitting $3.44. The stock had a trading volume of 16,470 shares. The stock’s market cap is $59.46 million. The company’s 50 day moving average price is $3.46 and its 200 day moving average price is $3.57. Flex Pharma has a 12 month low of $3.28 and a 12 month high of $11.99.
Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.46 million. Equities research analysts expect that Flex Pharma will post ($2.34) earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its stake in Flex Pharma by 36.0% during the 1st quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock worth $6,480,000 after acquiring an additional 390,200 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Flex Pharma by 69.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock worth $2,520,000 after acquiring an additional 268,505 shares in the last quarter. Royce & Associates LP lifted its stake in Flex Pharma by 29.0% during the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock worth $1,203,000 after acquiring an additional 70,210 shares in the last quarter. Spark Investment Management LLC acquired a new position in Flex Pharma during the 1st quarter worth about $223,000. Finally, Bank of New York Mellon Corp lifted its stake in Flex Pharma by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 487 shares in the last quarter. 27.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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