Flex Pharma (FLKS) Stock Rating Reaffirmed by Cantor Fitzgerald
Cantor Fitzgerald restated their hold rating on shares of Flex Pharma (NASDAQ:FLKS) in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has a $6.00 price target on the biotechnology company’s stock.
“MS Spasticity Data This Month. Flex announced completion of enrollment in the exploratory Phase II study in MS spasticity, with topline results expected at the end of 1Q18. We think this could be a meaningful inflection point for the shares as it could reset the probability of success for FLX-787. Trials in ALS and Charcot-Marie-Tooth syndrome (CMT) are underway but for the indications of cramps as opposed to spasticity, the indication for the MS program.”,” the firm’s analyst commented.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Flex Pharma from a hold rating to a buy rating and set a $4.75 price target on the stock in a report on Friday, December 1st. Ladenburg Thalmann Financial Services began coverage on Flex Pharma in a report on Thursday, January 25th. They set a buy rating and a $12.00 price target on the stock. Finally, Roth Capital restated a buy rating and set a $12.00 price target on shares of Flex Pharma in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $8.55.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.10. Flex Pharma had a negative return on equity of 85.02% and a negative net margin of 2,698.59%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.36 million. analysts forecast that Flex Pharma will post -2.18 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Granite Point Capital Management L.P. increased its holdings in shares of Flex Pharma by 80.8% in the 4th quarter. Granite Point Capital Management L.P. now owns 71,520 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 31,961 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Flex Pharma by 67.1% in the 4th quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock valued at $314,000 after acquiring an additional 36,100 shares during the last quarter. Sphera Funds Management LTD. purchased a new position in shares of Flex Pharma in the 3rd quarter valued at about $2,341,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Flex Pharma by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock valued at $2,457,000 after acquiring an additional 65,699 shares during the last quarter. Institutional investors and hedge funds own 28.96% of the company’s stock.
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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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