Flex Pharma Inc (FLKS) Stake Increased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in Flex Pharma Inc (NASDAQ:FLKS) by 10.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 720,524 shares of the biotechnology company’s stock after acquiring an additional 65,699 shares during the period. Ameriprise Financial Inc. owned approximately 4.01% of Flex Pharma worth $2,457,000 at the end of the most recent reporting period.

Separately, Royce & Associates LP lifted its stake in shares of Flex Pharma by 29.0% in 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 period. Institutional investors own 27.31% of the company’s stock.

Shares of Flex Pharma Inc (NASDAQ FLKS) opened at $3.86 on Friday. Flex Pharma Inc has a 52 week low of $2.68 and a 52 week high of $5.93. The company has a market cap of $70.84 and a price-to-earnings ratio of -1.91.

Flex Pharma (NASDAQ:FLKS) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.54) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.06. The company had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.47 million. Flex Pharma had a negative net margin of 2,655.19% and a negative return on equity of 71.39%. research analysts forecast that Flex Pharma Inc will post -2.48 earnings per share for the current year.

Several research firms have recently commented on FLKS. Roth Capital restated a “buy” rating and issued a $12.00 target price on shares of Flex Pharma in a research note on Wednesday. Zacks Investment Research cut shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $10.00 target price on shares of Flex Pharma in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $9.35.

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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.

Institutional Ownership by Quarter for Flex Pharma (NASDAQ:FLKS)

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