Analysts Expect Flex Pharma, Inc. (FLKS) Will Post Quarterly Sales of $380,000.00
Brokerages expect Flex Pharma, Inc. (NASDAQ:FLKS) to report $380,000.00 in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Flex Pharma’s earnings. The highest sales estimate is $400,000.00 and the lowest is $330,000.00. Flex Pharma posted sales of $300,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Flex Pharma will report full-year sales of $380,000.00 for the current fiscal year, with estimates ranging from $1.32 million to $1.40 million. For the next fiscal year, analysts forecast that the company will post sales of $4.29 million per share, with estimates ranging from $1.43 million to $6.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last issued its earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. The company had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.47 million.
Several research analysts have weighed in on FLKS shares. Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $10.00 target price on shares of Flex Pharma in a research report on Monday, September 25th. Finally, Roth Capital started coverage on Flex Pharma in a research report on Thursday, September 7th. They issued a “buy” rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Flex Pharma currently has a consensus rating of “Hold” and an average price target of $9.55.
Several hedge funds and other institutional investors have recently modified their holdings of FLKS. Ameriprise Financial Inc. grew its holdings in Flex Pharma by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after buying an additional 268,505 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in Flex Pharma in the 3rd quarter valued at approximately $2,341,000. Royce & Associates LP grew its holdings in Flex Pharma by 29.0% in the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after buying an additional 70,210 shares during the last quarter. LMR Partners LLP acquired a new stake in Flex Pharma in the 2nd quarter valued at approximately $104,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Flex Pharma by 1.2% in 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 during the period. 27.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flex Pharma (NASDAQ:FLKS) traded up $0.09 during mid-day trading on Thursday, reaching $4.34. The company’s stock had a trading volume of 8,200 shares, compared to its average volume of 75,427. Flex Pharma has a 12 month low of $2.68 and a 12 month high of $6.66.
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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