Flex Pharma Inc. (NASDAQ:FLKS)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Saturday. They presently have a $40.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 464.17% from the stock’s current price.
Several other equities analysts also recently issued reports on FLKS. Piper Jaffray Cos. reissued a “buy” rating and set a $25.00 price objective on shares of Flex Pharma in a research note on Thursday, August 4th. Zacks Investment Research downgraded shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. Finally, Cantor Fitzgerald downgraded shares of Flex Pharma from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Flex Pharma presently has an average rating of “Buy” and a consensus price target of $23.88.
Shares of Flex Pharma (NASDAQ:FLKS) traded down 15.90% on Friday, reaching $7.09. 292,601 shares of the company were exchanged. 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 company’s market capitalization is $111.78 million.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by $0.04. The company had revenue of $12.69 million for the quarter. On average, analysts predict that Flex Pharma will post ($2.67) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of FLKS. Primecap Management Co. CA increased its position in shares of 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 in the last quarter. BlackRock Fund Advisors increased its position in shares of Flex Pharma by 34.2% in the second quarter. BlackRock Fund Advisors now owns 502,242 shares of the biotechnology company’s stock worth $5,128,000 after buying an additional 128,078 shares in the last quarter. Oxford Asset Management acquired a new position in shares of Flex Pharma during the second quarter worth approximately $1,195,000. Massachusetts Financial Services Co. MA increased its position in shares of Flex Pharma by 40.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 356,135 shares of the biotechnology company’s stock worth $3,636,000 after buying an additional 101,839 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Flex Pharma by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 922,139 shares of the biotechnology company’s stock worth $9,434,000 after buying an additional 85,837 shares in the last quarter. 33.74% of the stock is currently 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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