Flex Pharma, Inc. (FLKS) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Flex Pharma, Inc. (NASDAQ:FLKS) from a sell rating to a hold rating in a research note published on Monday, August 7th.
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. “
Separately, Jefferies Group LLC decreased their price target on shares of Flex Pharma from $9.00 to $8.00 and set a buy rating on the stock in a research note on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Flex Pharma has a consensus rating of Buy and a consensus target price of $15.40.
Flex Pharma (NASDAQ FLKS) traded down 2.78% during midday trading on Monday, reaching $3.50. 67,358 shares of the company’s stock traded hands. Flex Pharma has a 52 week low of $3.01 and a 52 week high of $12.68. The stock’s market capitalization is $60.50 million. The company’s 50-day moving average price is $3.73 and its 200 day moving average price is $3.88.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. The company had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.46 million. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. On average, equities research analysts expect that Flex Pharma will post ($2.42) earnings per share for the current year.
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Several large investors have recently made changes to their positions in FLKS. LMR Partners LLP bought a new stake in shares of Flex Pharma during the second quarter worth about $104,000. Bank of New York Mellon Corp boosted its stake in Flex Pharma by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock worth $185,000 after buying an additional 487 shares during the period. Spark Investment Management LLC purchased a new position in shares of Flex Pharma during the first quarter worth approximately $223,000. Royce & Associates LP raised its position in shares of Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock worth $1,066,000 after buying an additional 174,000 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its position in shares of Flex Pharma by 11.2% in the first quarter. C WorldWide Group Holding A S now owns 278,060 shares of the biotechnology company’s stock worth $1,223,000 after buying an additional 28,060 shares in the last quarter. Institutional investors own 29.35% 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.
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