Insider Buying: Flex Pharma Inc. (FLKS) Insider Buys $51,170.00 in Stock
Flex Pharma Inc. (NASDAQ:FLKS) insider Christoph H. Westphal bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were acquired at an average cost of $7.31 per share, for a total transaction of $51,170.00. Following the completion of the acquisition, the insider now directly owns 3,941,118 shares in the company, valued at approximately $28,809,572.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Flex Pharma Inc. (NASDAQ:FLKS) opened at 6.98 on Friday. The stock’s 50 day moving average price is $8.28 and its 200-day moving average price is $10.56. The company’s market capitalization is $110.05 million. Flex Pharma Inc. has a 52-week low of $4.55 and a 52-week high of $13.97.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.07. On average, equities analysts expect that Flex Pharma Inc. will post ($2.60) earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. 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 period. Citadel Advisors LLC purchased a new stake in Flex Pharma during the second quarter worth about $104,000. Parametric Portfolio Associates LLC purchased a new stake in Flex Pharma during the second quarter worth about $109,000. Acadian Asset Management LLC purchased a new stake in Flex Pharma during the second quarter worth about $114,000. Finally, Highbridge Capital Management LLC purchased a new stake in Flex Pharma during the second quarter worth about $116,000. Institutional investors and hedge funds own 33.68% of the company’s stock.
FLKS has been the topic of a number of recent analyst reports. Cantor Fitzgerald lowered Flex Pharma from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $10.00 in a report on Friday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Flex Pharma in a report on Saturday, October 15th. Zacks Investment Research raised Flex Pharma from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Tuesday, November 1st. Piper Jaffray Cos. set a $15.00 price objective on Flex Pharma and gave the company a “buy” rating in a report on Wednesday, November 2nd. Finally, JMP Securities reaffirmed a “buy” rating on shares of Flex Pharma in a report on Thursday, November 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $19.96.
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 & Stock 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 stocks with our FREE daily email newsletter.