Equities analysts expect that Flex Pharma Inc (NASDAQ:FLKS) will post sales of $460,000.00 for the current quarter, Zacks reports. Two analysts have provided estimates for Flex Pharma’s earnings, with estimates ranging from $410,000.00 to $500,000.00. Flex Pharma posted sales of $110,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 318.2%. The business is expected to issue its next earnings results on Wednesday, August 2nd.
On average, analysts expect that Flex Pharma will report full year sales of $460,000.00 for the current financial year, with estimates ranging from $1.37 million to $2.9 million. For the next financial year, analysts forecast that the company will report sales of $5.72 million per share, with estimates ranging from $5.43 million to $6 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.13. The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.38 million.
A number of research firms have commented on FLKS. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 price objective (down from $11.00) on shares of Flex Pharma in a research note on Saturday, March 11th. Piper Jaffray Companies set a $12.00 price objective on shares of Flex Pharma and gave the company a “buy” rating in a research note on Wednesday, March 8th. Finally, Zacks Investment Research downgraded shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. One 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. The company currently has an average rating of “Buy” and a consensus price target of $15.40.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Flex Pharma by 5.9% in the first quarter. Geode Capital Management LLC now owns 80,986 shares of the biotechnology company’s stock worth $356,000 after buying an additional 4,544 shares during the last quarter. Vanguard Group Inc. increased its position in Flex Pharma by 1.7% in the first quarter. Vanguard Group Inc. now owns 317,235 shares of the biotechnology company’s stock worth $1,396,000 after buying an additional 5,154 shares during the last quarter. Primecap Management Co. CA increased its position in Flex Pharma by 36.0% in the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock worth $6,480,000 after buying an additional 390,200 shares during the last quarter. Royce & Associates LP increased its position in Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock worth $1,066,000 after buying an additional 174,000 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in Flex Pharma during the first quarter worth about $223,000. Institutional investors own 31.36% of the company’s stock.
Shares of Flex Pharma (NASDAQ:FLKS) opened at 3.37 on Friday. The company has a 50-day moving average of $3.47 and a 200-day moving average of $4.70. The stock’s market capitalization is $57.39 million. Flex Pharma has a 12 month low of $3.01 and a 12 month high of $13.64.
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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