Flex Pharma Inc. (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Flex Pharma, Inc. is a biotechnology company. The Company is involved in developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. Flex Pharma, Inc. is headquartered in Boston, Massachusetts. “
Other equities research analysts also recently issued reports about the company. Piper Jaffray Cos. set a $25.00 price target on Flex Pharma and gave the stock a “buy” rating in a research report on Thursday, August 18th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Flex Pharma in a research report on Saturday. Finally, Cantor Fitzgerald downgraded Flex Pharma from a “buy” rating to a “hold” rating and cut their price target for the stock from $22.00 to $10.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Flex Pharma has an average rating of “Buy” and an average price target of $21.88.
Flex Pharma (NASDAQ:FLKS) traded up 0.61% during midday trading on Tuesday, hitting $6.55. The company had a trading volume of 78,782 shares. Flex Pharma has a 1-year low of $6.45 and a 1-year high of $13.97. The firm’s market capitalization is $103.27 million. The company has a 50 day moving average price of $10.89 and a 200 day moving average price of $11.29.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $0.04. The business earned $12.69 million during the quarter. Equities research analysts forecast that Flex Pharma will post ($2.67) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Primecap Management Co. CA raised 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 raised its position in 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 during the period. Oxford Asset Management acquired a new position in Flex Pharma during the second quarter worth $1,195,000. Massachusetts Financial Services Co. MA raised its position in 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 during the period. Finally, Ameriprise Financial Inc. raised its position in 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 during the period. Hedge funds and other institutional investors 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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