Roth Capital Reaffirms “Buy” Rating for Flex Pharma (FLKS)
Roth Capital reaffirmed their buy rating on shares of Flex Pharma (NASDAQ:FLKS) in a report released on Wednesday morning, MarketBeat reports. The brokerage currently has a $12.00 target price on the biotechnology company’s stock.
A number of other analysts have also recently commented on FLKS. Zacks Investment Research cut shares of Flex Pharma from a hold rating to a sell rating in a research report on Wednesday. Cantor Fitzgerald reiterated a hold rating and set a $10.00 target price on shares of Flex Pharma in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $9.35.
Shares of Flex Pharma (NASDAQ:FLKS) opened at $3.86 on Wednesday. The company has a market cap of $74.38 and a price-to-earnings ratio of -1.91. Flex Pharma has a 1 year low of $2.68 and a 1 year high of $5.93.
Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.54) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative net margin of 2,655.19% and a negative return on equity of 71.39%. The business had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.47 million. equities analysts expect that Flex Pharma will post -2.39 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised 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 acquiring an additional 70,210 shares during the period. Sphera Funds Management LTD. bought a new position in Flex Pharma in the 3rd quarter valued at about $2,341,000. Finally, Ameriprise Financial Inc. raised its holdings in Flex Pharma by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock valued at $2,457,000 after acquiring an additional 65,699 shares during the period. 27.31% of the stock is currently owned by hedge funds and other institutional investors.
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Flex Pharma Company 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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