Ladenburg Thalmann Financial Services assumed coverage on shares of Flex Pharma (NASDAQ:FLKS) in a report published on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $12.00 price target on the biotechnology company’s stock.
Several other equities research analysts have also weighed in on FLKS. Zacks Investment Research upgraded Flex Pharma from a hold rating to a buy rating and set a $3.75 price target on the stock in a research report on Tuesday, October 3rd. Cantor Fitzgerald restated a hold rating and set a $10.00 price target on shares of Flex Pharma in a research report on Monday, November 6th. Finally, Roth Capital restated a buy rating and set a $12.00 price target on shares of Flex Pharma in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $9.79.
Flex Pharma (NASDAQ:FLKS) traded down $0.02 during midday trading on Thursday, hitting $4.37. The company had a trading volume of 9,751 shares, compared to its average volume of 82,447. Flex Pharma has a one year low of $2.68 and a one year high of $5.93. The company has a market capitalization of $72.25, a price-to-earnings ratio of -2.17 and a beta of 3.54.
An institutional investor recently raised its position in Flex Pharma stock. Ameriprise Financial Inc. grew its stake in Flex Pharma Inc (NASDAQ:FLKS) by 69.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 654,825 shares of the biotechnology company’s stock after acquiring an additional 268,505 shares during the quarter. Ameriprise Financial Inc. owned 3.82% of Flex Pharma worth $2,520,000 at the end of the most recent quarter. 27.26% of the stock is owned by 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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