Zacks Investment Research upgraded shares of Flex Pharma (NASDAQ:FLKS) from a hold rating to a buy rating in a research note published on Tuesday, June 19th. Zacks Investment Research currently has $1.50 target price on the biotechnology company’s stock.
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. “
A number of other equities research analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of Flex Pharma from a buy rating to a hold rating in a research report on Wednesday, June 13th. LADENBURG THALM/SH SH downgraded shares of Flex Pharma from a buy rating to a neutral rating and set a $12.00 price objective for the company. in a research report on Wednesday, June 13th. ValuEngine upgraded shares of Flex Pharma from a sell rating to a hold rating in a research report on Saturday, June 2nd. HC Wainwright reiterated a buy rating and set a $40.00 price target on shares of Flex Pharma in a research report on Thursday, May 3rd. Finally, Cantor Fitzgerald set a $6.00 price target on shares of Flex Pharma and gave the company a hold rating in a research report on Tuesday, March 27th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.30.
Shares of NASDAQ:FLKS opened at $0.94 on Tuesday. The stock has a market capitalization of $17.56 million, a P/E ratio of -0.47 and a beta of 2.87. Flex Pharma has a 52 week low of $0.92 and a 52 week high of $8.98.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.04. The firm had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.30 million. Flex Pharma had a negative net margin of 2,842.07% and a negative return on equity of 104.48%. equities analysts forecast that Flex Pharma will post -1.54 EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Sphera Funds Management LTD. lifted its position in shares of Flex Pharma by 70.7% during the 4th quarter. Sphera Funds Management LTD. now owns 241,211 shares of the biotechnology company’s stock valued at $4,339,000 after acquiring an additional 99,911 shares during the period. Renaissance Technologies LLC lifted its position in shares of Flex Pharma by 67.1% during 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 period. Millennium Management LLC lifted its position in shares of Flex Pharma by 75.9% during the 1st quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock valued at $301,000 after acquiring an additional 25,941 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Flex Pharma by 10,889.2% during the 1st quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock valued at $188,000 after acquiring an additional 37,241 shares during the period. Institutional investors own 27.80% of the company’s stock.
Flex Pharma Company Profile
Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the United States. It operates in two segments, Consumer Operations and Drug Development. The company's lead drug candidate is FLX-787, a single molecule, chemically synthesized, and dual transient receptor potential V1/A1 ion channel activator, which is in exploratory Phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis; and two Phase 2 clinical trials in the United States for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis.
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