Zacks: Brokerages Expect Flex Pharma, Inc. (FLKS) to Announce -$0.68 Earnings Per Share
Brokerages predict that Flex Pharma, Inc. (NASDAQ:FLKS) will post earnings of ($0.68) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Flex Pharma’s earnings, with the highest EPS estimate coming in at ($0.56) and the lowest estimate coming in at ($0.80). Flex Pharma posted earnings per share of ($0.65) during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.6%. The business is expected to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Flex Pharma will report full-year earnings of ($2.53) per share for the current year, with EPS estimates ranging from ($3.23) to ($2.15). For the next fiscal year, analysts anticipate that the firm will post earnings of ($2.34) per share, with EPS estimates ranging from ($3.68) to ($1.37). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.12. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. The company had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.46 million.
A number of research analysts have recently commented on the company. Jefferies Group LLC dropped their price target on Flex Pharma from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Zacks Investment Research cut Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.40.
A number of hedge funds have recently modified their holdings of FLKS. C WorldWide Group Holding A S increased its stake 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 last quarter. Spark Investment Management LLC acquired a new stake in shares of Flex Pharma during the first quarter worth $223,000. Royce & Associates LP increased its stake 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 during the last quarter. Finally, Primecap Management Co. CA increased its stake in shares of Flex Pharma by 36.0% in the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock worth $6,480,000 after buying an additional 390,200 shares during the last quarter. Hedge funds and other institutional investors own 27.74% of the company’s stock.
Shares of Flex Pharma (NASDAQ:FLKS) traded up 8.42% during trading on Friday, hitting $3.99. The company’s stock had a trading volume of 52,020 shares. The company’s market capitalization is $68.97 million. The firm’s 50 day moving average is $3.69 and its 200-day moving average is $3.85. Flex Pharma has a 1-year low of $3.01 and a 1-year high of $12.07.
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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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