Flex Pharma’s (FLKS) Hold Rating Reaffirmed at Cantor Fitzgerald
Cantor Fitzgerald reiterated their hold rating on shares of Flex Pharma, Inc. (NASDAQ:FLKS) in a research note released on Monday. Cantor Fitzgerald currently has a $10.00 target price on the biotechnology company’s stock.
“Exploratory Phase II study of FLX-787 in ALS has produced statistically significant results in decreased pain intensity and stiffness (p<0.05) in a small population of 8 patients.",” Cantor Fitzgerald’s analyst commented.
A number of other equities research analysts also recently issued reports on the stock. 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. Zacks Investment Research upgraded shares of Flex Pharma from a sell rating to a hold rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Flex Pharma presently has a consensus rating of Buy and a consensus price target of $9.55.
Shares of Flex Pharma (FLKS) traded down $0.03 during mid-day trading on Monday, reaching $3.45. 44,653 shares of the company traded hands, compared to its average volume of 44,075. Flex Pharma has a 12-month low of $2.68 and a 12-month high of $7.55.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.47 million. equities analysts predict that Flex Pharma will post -2.4 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in shares of Flex Pharma by 69.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after acquiring an additional 268,505 shares during the period. Royce & Associates LP raised its position in shares of 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 purchasing an additional 70,210 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 487 shares during the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Flex Pharma during the 2nd quarter worth approximately $104,000. Institutional investors own 27.80% of the company’s stock.
Flex Pharma Company 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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