Flex Pharma, Inc. (NASDAQ:FLKS)‘s stock had its “hold” rating restated by analysts at Cantor Fitzgerald in a research report issued on Monday, November 6th. They presently have a $10.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 135.29% from the stock’s previous close.
The analysts wrote, “Exploratory Phase II study of FLX-787 in ALS has produced statistically significant results in decreased pain intensity and stiffness (p<0.05) in a small population of 8 patients."”
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Roth Capital started coverage on Flex Pharma in a research note on Thursday, September 7th. They set a “buy” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $9.55.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.06. The firm had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.47 million. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. research analysts forecast that Flex Pharma will post -2.38 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in FLKS. Ameriprise Financial Inc. increased its stake in shares of 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 purchasing an additional 268,505 shares during the last quarter. Royce & Associates LP grew its position 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 during the last quarter. Bank of New York Mellon Corp grew its position 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 during the last quarter. Sphera Funds Management LTD. bought a new stake in Flex Pharma during the 3rd quarter worth $2,341,000. Finally, LMR Partners LLP bought a new stake in Flex Pharma during the 2nd quarter worth $104,000. 28.75% of the stock is owned by hedge funds and other institutional investors.
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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