Flex Pharma Inc. (NASDAQ:FLKS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

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. “

A number of other equities research analysts have also recently commented on FLKS. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $25.00 target price on shares of Flex Pharma in a report on Thursday, August 4th. Cantor Fitzgerald cut shares of Flex Pharma from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $10.00 in a report on Friday, October 14th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Flex Pharma in a report on Saturday, October 15th. 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 issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.25.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

Shares of Flex Pharma (NASDAQ:FLKS) opened at 6.69 on Monday. The firm’s market capitalization is $110.59 million. Flex Pharma has a 12-month low of $4.55 and a 12-month high of $13.97. The company has a 50-day moving average price of $7.90 and a 200 day moving average price of $10.43.

Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.07. On average, equities analysts expect that Flex Pharma will post ($2.54) earnings per share for the current year.

In related news, insider Christoph H. Westphal bought 7,000 shares of the stock in a transaction on Tuesday, November 8th. The shares were bought at an average cost of $7.31 per share, for a total transaction of $51,170.00. Following the completion of the transaction, the insider now owns 3,941,118 shares of the company’s stock, valued at approximately $28,809,572.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christoph H. Westphal bought 8,870 shares of the stock in a transaction on Monday, November 7th. The shares were bought at an average price of $5.70 per share, for a total transaction of $50,559.00. Following the completion of the transaction, the insider now directly owns 3,934,118 shares of the company’s stock, valued at approximately $22,424,472.60. The disclosure for this purchase can be found here. Corporate insiders own 43.35% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FLKS. JPMorgan Chase & Co. raised its position in shares of Flex Pharma by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 283,682 shares of the biotechnology company’s stock valued at $3,112,000 after buying an additional 57,729 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Flex Pharma during the second quarter valued at $114,000. Strs Ohio raised its position 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 valued at $100,000 after buying an additional 8,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Flex Pharma by 33.2% in the second quarter. Bank of New York Mellon Corp now owns 41,313 shares of the biotechnology company’s stock valued at $422,000 after buying an additional 10,297 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Flex Pharma by 88.0% in the second quarter. California State Teachers Retirement System now owns 22,325 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 10,451 shares during the last quarter. Institutional investors own 33.48% 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.

5 Day Chart for NASDAQ:FLKS

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