Flex Pharma Inc. (NASDAQ:FLKS) Receives $24.67 Average PT from Analysts
Shares of Flex Pharma Inc. (NASDAQ:FLKS) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.67.
A number of research analysts recently commented on FLKS shares. Piper Jaffray Cos. reiterated a “buy” rating and issued a $25.00 price target on shares of Flex Pharma in a research note on Thursday, August 4th. Zacks Investment Research lowered shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Highbridge Capital Management LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $116,000. Bridgeway Capital Management Inc. acquired a new position in shares of Flex Pharma during the second quarter worth about $317,000. Parametric Portfolio Associates LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $109,000. Citadel Advisors LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $104,000. Finally, KCG Holdings Inc. acquired a new position in shares of Flex Pharma during the second quarter worth about $169,000. Hedge funds and other institutional investors own 33.74% of the company’s stock.
Flex Pharma (NASDAQ:FLKS) opened at 11.30 on Friday. Flex Pharma has a 1-year low of $6.48 and a 1-year high of $13.97. The company’s market cap is $178.16 million. The stock has a 50 day moving average of $11.42 and a 200-day moving average of $11.39.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.04. The company had revenue of $12.69 million for the quarter. On average, equities research analysts predict that Flex Pharma will post ($2.67) earnings per share for the current year.
Flex Pharma Company Profile
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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