Flex Pharma Inc (NASDAQ:FLKS) – Cantor Fitzgerald raised their FY2017 earnings estimates for shares of Flex Pharma in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst M. Goldstein now expects that the biotechnology company will post earnings of ($2.18) per share for the year, up from their previous forecast of ($2.29).
Other analysts have also recently issued research reports about the stock. Jefferies Group LLC reissued a “buy” rating and set a $9.00 target price (down previously 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.60.
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Flex Pharma (NASDAQ:FLKS) traded down 13.97% during midday trading on Thursday, hitting $3.08. The stock had a trading volume of 106,264 shares. Flex Pharma has a 52-week low of $3.05 and a 52-week high of $13.97. The firm has a 50-day moving average of $4.10 and a 200 day moving average of $5.49. The firm’s market capitalization is $51.66 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, March 8th. The biotechnology company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.36. The company earned $0.30 million during the quarter, compared to analysts’ expectations of $0.09 million.
Several hedge funds have recently bought and sold shares of the stock. CAM Group Holding A S boosted its stake in Flex Pharma by 50.0% in the third quarter. CAM Group Holding A S now owns 225,000 shares of the biotechnology company’s stock valued at $2,650,000 after buying an additional 75,000 shares during the period. State Street Corp boosted its stake in Flex Pharma by 0.5% in the fourth quarter. State Street Corp now owns 137,777 shares of the biotechnology company’s stock valued at $730,000 after buying an additional 642 shares during the period. Finally, Royce & Associates LP boosted its stake in Flex Pharma by 3,000.0% in the fourth quarter. Royce & Associates LP now owns 68,200 shares of the biotechnology company’s stock valued at $360,000 after buying an additional 66,000 shares during the period. 31.36% of the stock is owned by institutional investors and hedge funds.
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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