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

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. “

FLKS has been the topic of several other reports. Cantor Fitzgerald lowered Flex Pharma from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $10.00 in a research note on Friday, October 14th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Flex Pharma in a research note on Saturday, October 15th. Piper Jaffray Cos. set a $15.00 price objective on Flex Pharma and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Finally, JMP Securities reiterated a “buy” rating on shares of Flex Pharma in a research note on Thursday, November 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.25.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

Shares of Flex Pharma (NASDAQ:FLKS) opened at 6.72 on Thursday. The stock has a 50 day moving average price of $6.82 and a 200-day moving average price of $10.26. Flex Pharma has a 1-year low of $4.55 and a 1-year high of $13.97. The company’s market cap is $111.08 million.

Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, November 2nd. The biotechnology company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.07. Analysts predict that Flex Pharma will post ($2.54) earnings per share for the current fiscal year.

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In other news, insider Christoph H. Westphal acquired 8,870 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were purchased at an average cost of $5.70 per share, for a total transaction of $50,559.00. Following the transaction, the insider now owns 3,934,118 shares of the company’s stock, valued at $22,424,472.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christoph H. Westphal acquired 7,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 3,941,118 shares in the company, valued at approximately $28,809,572.58. 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 made changes to their positions in FLKS. California State Teachers Retirement System raised its position in shares of 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 worth $265,000 after buying an additional 200 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Flex Pharma by 6.1% in the third quarter. BlackRock Fund Advisors now owns 532,931 shares of the biotechnology company’s stock worth $6,278,000 after buying an additional 30,689 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Flex Pharma by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 54,632 shares of the biotechnology company’s stock worth $644,000 after buying an additional 1,100 shares during the last quarter. CAM Group Holding A S increased its position in Flex Pharma by 50.0% in the third quarter. CAM Group Holding A S now owns 225,000 shares of the biotechnology company’s stock worth $2,650,000 after buying an additional 75,000 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Flex Pharma during the second quarter worth $116,000. Hedge funds and other institutional investors own 33.44% of the company’s stock.

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.

5 Day Chart for NASDAQ:FLKS

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