Flex Pharma Inc. (NASDAQ:FLKS) was downgraded by equities research analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a report issued on Friday.
Other equities research analysts have also recently issued research reports about the stock. Piper Jaffray Cos. restated a “buy” rating and set a $25.00 target price on shares of Flex Pharma in a research note on Thursday, August 4th. Zacks Investment Research cut shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.65.
Shares of Flex Pharma (NASDAQ:FLKS) opened at 8.43 on Friday. The company’s market capitalization is $132.91 million. Flex Pharma has a 12-month low of $6.48 and a 12-month high of $13.97. The company’s 50-day moving average is $11.29 and its 200-day moving average is $11.38.
Flex Pharma (NASDAQ:FLKS) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.04. The business had revenue of $12.69 million for the quarter. Analysts predict that Flex Pharma will post ($2.67) EPS for the current year.
A number of large investors have recently made changes to their positions in FLKS. BlackRock Advisors LLC raised its stake in shares of Flex Pharma by 2.7% in the second quarter. BlackRock Advisors LLC now owns 21,983 shares of the biotechnology company’s stock worth $224,000 after buying an additional 588 shares during the period. ProShare Advisors LLC raised its position in Flex Pharma by 6.0% in the second quarter. ProShare Advisors LLC now owns 14,682 shares of the biotechnology company’s stock worth $150,000 after buying an additional 832 shares during the period. Spark Investment Management LLC raised its position in Flex Pharma by 15.6% in the second quarter. Spark Investment Management LLC now owns 33,400 shares of the biotechnology company’s stock worth $341,000 after buying an additional 4,500 shares during the period. Teachers Advisors Inc. raised its position in Flex Pharma by 84.2% in the second quarter. Teachers Advisors Inc. now owns 14,101 shares of the biotechnology company’s stock worth $144,000 after buying an additional 6,447 shares during the period. Finally, Strs Ohio raised its position 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. 33.74% 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.
Receive News & Ratings for Flex Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.