Analysts Set Flex Pharma Inc (FLKS) PT at $17.50
Shares of Flex Pharma Inc (NASDAQ:FLKS) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.50.
Several equities research analysts have recently commented on FLKS shares. Zacks Investment Research cut shares of Flex Pharma from a “buy” rating to a “sell” rating in a research report on Tuesday, August 14th. ValuEngine raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. LADENBURG THALM/SH SH cut shares of Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 target price for the company. in a research report on Wednesday, June 13th. Finally, Jefferies Financial Group cut shares of Flex Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th.
Several large investors have recently bought and sold shares of FLKS. JPMorgan Chase & Co. lifted its position in shares of Flex Pharma by 10,889.2% in the 1st quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock worth $188,000 after purchasing an additional 37,241 shares during the period. Renaissance Technologies LLC lifted its position in shares of Flex Pharma by 84.3% in the 2nd quarter. Renaissance Technologies LLC now owns 236,958 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 108,358 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Flex Pharma by 75.9% in the 1st quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock worth $301,000 after purchasing an additional 25,941 shares during the period. 19.65% of the stock is owned by hedge funds and other institutional investors.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.05). Flex Pharma had a negative net margin of 3,092.50% and a negative return on equity of 137.76%. The firm had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $0.20 million. analysts predict that Flex Pharma will post -1.28 earnings per share for the current fiscal year.
About Flex Pharma
Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the United States. It operates in two segments, Consumer Operations and Drug Development. The company's lead drug candidate is FLX-787, a single molecule, chemically synthesized, and dual transient receptor potential V1/A1 ion channel activator, which is in exploratory Phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis; and two Phase 2 clinical trials in the United States for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis.
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