Franklin Resources Inc. Continues to Hold Stake in Flex Pharma, Inc. (FLKS)
Franklin Resources Inc. continued to hold its stake in shares of Flex Pharma, Inc. (NASDAQ:FLKS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 452,600 shares of the biotechnology company’s stock at the end of the 2nd quarter. Franklin Resources Inc. owned about 2.64% of Flex Pharma worth $1,743,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Royce & Associates LP increased its position in shares of Flex Pharma by 29.0% during the second quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after acquiring an additional 70,210 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Flex Pharma during the second quarter valued at approximately $104,000. Primecap Management Co. CA increased its position in shares of Flex Pharma by 36.0% during the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock valued at $6,480,000 after acquiring an additional 390,200 shares in the last quarter. Spark Investment Management LLC bought a new stake in shares of Flex Pharma during the first quarter valued at approximately $223,000. Finally, Bank of New York Mellon Corp increased its position in shares of Flex Pharma by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 487 shares in the last quarter. 27.74% of the stock is owned by institutional investors.
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Shares of Flex Pharma, Inc. (NASDAQ:FLKS) opened at 3.41 on Friday. Flex Pharma, Inc. has a one year low of $3.28 and a one year high of $11.99. The company has a 50-day moving average of $3.46 and a 200 day moving average of $3.46. The stock’s market cap is $58.94 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million during the quarter, compared to analyst estimates of $0.46 million. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. On average, analysts predict that Flex Pharma, Inc. will post ($2.34) earnings per share for the current year.
Several equities research analysts recently weighed in on FLKS shares. Roth Capital started coverage on shares of Flex Pharma in a research report on Thursday, September 7th. They set a “buy” rating and a $14.00 price target for the company. Cantor Fitzgerald reissued a “hold” rating and set a $10.00 price target on shares of Flex Pharma in a research report on Monday, September 25th. Finally, Zacks Investment Research raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Flex Pharma currently has an average rating of “Buy” and an average price target of $15.17.
Flex Pharma 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.
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