Jefferies Group Comments on Flex Pharma Inc’s Q1 2018 Earnings (FLKS)
Flex Pharma Inc (NASDAQ:FLKS) – Analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of Flex Pharma in a research report issued on Thursday. Jefferies Group analyst M. Andrews forecasts that the biotechnology company will earn ($0.45) per share for the quarter. Jefferies Group also issued estimates for Flex Pharma’s Q2 2018 earnings at ($0.50) EPS, Q3 2018 earnings at ($0.54) EPS, Q4 2018 earnings at ($0.29) EPS and FY2018 earnings at ($1.67) EPS.
A number of other research firms have also commented on FLKS. Cantor Fitzgerald reaffirmed a “hold” rating and set a $6.00 price objective on shares of Flex Pharma in a research note on Wednesday, March 7th. Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Ladenburg Thalmann Financial Services assumed coverage on Flex Pharma in a research note on Thursday, January 25th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Roth Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of Flex Pharma in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $8.55.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.10. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.36 million. Flex Pharma had a negative return on equity of 85.02% and a negative net margin of 2,698.59%.
Large investors have recently modified their holdings of the business. Sphera Funds Management LTD. acquired a new stake in Flex Pharma in the 3rd quarter worth about $2,341,000. Ameriprise Financial Inc. boosted its stake in Flex Pharma by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock worth $2,457,000 after buying an additional 65,699 shares during the last quarter. Granite Point Capital Management L.P. boosted its stake in 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 worth $250,000 after buying an additional 31,961 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Flex Pharma by 67.1% in the 4th quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock worth $314,000 after buying an additional 36,100 shares during the last quarter. 28.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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