Flex Pharma Inc. (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $7.50 target price on the biotechnology company’s stock. Zacks Investment Research’s target price points to a potential upside of 12.28% from the stock’s previous close.

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 brokerages also recently issued reports on FLKS. Cantor Fitzgerald downgraded Flex Pharma from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $10.00 in a research report on Friday, October 14th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Flex Pharma in a research report on Saturday, October 15th. Piper Jaffray Cos. set a $15.00 price objective on Flex Pharma and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Finally, JMP Securities restated a “buy” rating on shares of Flex Pharma in a research report on Thursday, November 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Flex Pharma currently has an average rating of “Buy” and a consensus target price of $20.25.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

Flex Pharma (NASDAQ:FLKS) traded down 0.15% during trading on Wednesday, reaching $6.68. The company’s stock had a trading volume of 123,370 shares. The stock’s market cap is $110.42 million. Flex Pharma has a 12 month low of $4.55 and a 12 month high of $13.97. The company’s 50-day moving average is $7.09 and its 200-day moving average is $10.28.

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

In other news, insider Christoph H. Westphal acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average price 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 purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christoph H. Westphal acquired 8,870 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were purchased at an average price of $5.70 per share, with a total value of $50,559.00. Following the acquisition, the insider now owns 3,934,118 shares of the company’s stock, valued at $22,424,472.60. The disclosure for this purchase can be found here. 43.35% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in FLKS. California State Teachers Retirement System increased its stake in Flex Pharma by 0.9% in the third quarter. California State Teachers Retirement System now owns 22,525 shares of the biotechnology company’s stock valued at $265,000 after buying an additional 200 shares in the last quarter. BlackRock Advisors LLC increased its stake in Flex Pharma by 2.7% in the second quarter. BlackRock Advisors LLC now owns 21,983 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 588 shares in the last quarter. ProShare Advisors LLC increased its stake in Flex Pharma by 6.0% in the second quarter. ProShare Advisors LLC now owns 14,682 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 832 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Flex Pharma by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 54,632 shares of the biotechnology company’s stock valued at $644,000 after buying an additional 1,100 shares in the last quarter. Finally, Spark Investment Management LLC increased its stake in Flex Pharma by 15.6% in the second quarter. Spark Investment Management LLC now owns 33,400 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 33.21% of the company’s stock.

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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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