Roth Capital started coverage on shares of Flex Pharma, Inc. (NASDAQ:FLKS) in a report published on Thursday morning. The brokerage issued a buy rating and a $14.00 target price on the biotechnology company’s stock.
Separately, Zacks Investment Research cut shares of Flex Pharma from a hold rating to a sell rating in a research report on Tuesday, May 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $15.17.
Shares of Flex Pharma (FLKS) opened at 3.34 on Thursday. The firm has a 50-day moving average of $3.70 and a 200 day moving average of $3.78. The company’s market capitalization is $57.73 million. Flex Pharma has a 1-year low of $3.01 and a 1-year high of $12.07.
Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. The firm had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $0.46 million. On average, equities research analysts expect that Flex Pharma will post ($2.34) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of FLKS. LMR Partners LLP purchased a new position in Flex Pharma during the 2nd quarter valued at about $104,000. Bank of New York Mellon Corp lifted 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 valued at $185,000 after acquiring an additional 487 shares during the period. Spark Investment Management LLC purchased a new position in Flex Pharma during the 1st quarter valued at about $223,000. Royce & Associates LP lifted its position in Flex Pharma by 255.1% during the 1st quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock valued at $1,066,000 after acquiring an additional 174,000 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Flex Pharma by 69.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after acquiring an additional 268,505 shares during the period. 27.74% of the stock is owned by institutional investors.
About Flex Pharma
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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