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

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. “

Other research analysts also recently issued reports about the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $10.00 price target on shares of Flex Pharma in a report on Monday, September 25th. Roth Capital began coverage on Flex Pharma in a report on Thursday, September 7th. They issued a “buy” rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.63.

Shares of Flex Pharma (NASDAQ FLKS) opened at 3.47 on Tuesday. Flex Pharma has a 1-year low of $3.01 and a 1-year high of $10.00. The stock’s market capitalization is $59.98 million. The stock has a 50 day moving average price of $3.43 and a 200-day moving average price of $3.43.

Flex Pharma (NASDAQ:FLKS) last announced its quarterly 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 business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.46 million. On average, analysts forecast that Flex Pharma will post ($2.34) earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in Flex Pharma by 69.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock worth $2,520,000 after buying an additional 268,505 shares during the last quarter. Royce & Associates LP grew its stake in Flex Pharma by 29.0% during the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock worth $1,203,000 after buying an additional 70,210 shares during the last quarter. LMR Partners LLP purchased a new position in Flex Pharma during the 2nd quarter worth $104,000. Spark Investment Management LLC purchased a new position in Flex Pharma during the 1st quarter worth $223,000. Finally, Bank of New York Mellon Corp grew its stake in Flex Pharma by 1.2% during the 1st 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. Hedge funds and other institutional investors own 27.74% 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.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

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