Flex Pharma Inc. (FLKS) Rating Lowered to Hold at Cantor Fitzgerald
Flex Pharma Inc. (NASDAQ:FLKS) was downgraded by equities research analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities analysts have also recently commented on FLKS. Piper Jaffray Cos. reaffirmed 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 cut shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.65.
Flex Pharma (NASDAQ:FLKS) opened at 8.43 on Friday. The company has a 50-day moving average of $11.29 and a 200 day moving average of $11.38. The company’s market cap is $132.91 million. Flex Pharma has a 52 week low of $6.48 and a 52 week high of $13.97.
Flex Pharma (NASDAQ:FLKS) last posted its 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 firm had revenue of $12.69 million for the quarter. On average, equities analysts forecast that Flex Pharma will post ($2.67) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in FLKS. Strs Ohio raised its stake in shares of 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 last quarter. Citadel Advisors LLC acquired a new stake in shares of Flex Pharma during the second quarter worth $104,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Flex Pharma during the second quarter worth $109,000. Acadian Asset Management LLC acquired a new stake in shares of Flex Pharma during the second quarter worth $114,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Flex Pharma during the second quarter worth $116,000. Hedge funds and other institutional investors own 33.74% of the company’s stock.
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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