HC Wainwright restated their buy rating on shares of Flex Pharma Inc. (NASDAQ:FLKS) in a research note published on Saturday. They currently have a $40.00 price target on the biotechnology company’s stock.
Other research analysts have also issued reports about the stock. Piper Jaffray Cos. set a $25.00 price objective on shares of Flex Pharma and gave the company a buy rating in a research note on Thursday, August 18th. Cantor Fitzgerald lowered shares of Flex Pharma from a buy rating to a hold rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Flex Pharma from a hold rating to a sell rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Flex Pharma has a consensus rating of Buy and an average target price of $23.88.
Flex Pharma (NASDAQ:FLKS) traded down 15.90% on Friday, hitting $7.09. 292,601 shares of the stock traded hands. The stock has a 50 day moving average of $11.15 and a 200 day moving average of $11.35. Flex Pharma has a 52 week low of $6.48 and a 52 week high of $13.97. The firm’s market capitalization is $111.78 million.
Flex Pharma (NASDAQ:FLKS) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.04. The company had revenue of $12.69 million for the quarter. Equities research analysts anticipate that Flex Pharma will post ($2.67) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Flex Pharma by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 283,682 shares of the biotechnology company’s stock worth $3,112,000 after buying an additional 57,729 shares during the period. State Street Corp increased its stake in Flex Pharma by 24.1% in the first quarter. State Street Corp now owns 51,490 shares of the biotechnology company’s stock worth $566,000 after buying an additional 9,990 shares during the period. Primecap Management Co. CA increased its stake in Flex Pharma by 44.5% in the first quarter. Primecap Management Co. CA now owns 634,721 shares of the biotechnology company’s stock worth $6,963,000 after buying an additional 195,346 shares during the period. Acadian Asset Management LLC bought a new stake in Flex Pharma during the second quarter worth about $114,000. Finally, Strs Ohio increased its stake in Flex Pharma by 444.4% in the second quarter. Strs Ohio now owns 9,800 shares of the biotechnology company’s stock worth $100,000 after buying an additional 8,000 shares during the period. Institutional investors and hedge funds own 33.74% of the company’s stock.
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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