Shares of Flex Pharma Inc (NASDAQ:FLKS) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $17.50.
Several brokerages have issued reports on FLKS. Zacks Investment Research lowered shares of Flex Pharma from a “buy” rating to a “sell” rating in a report on Tuesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Flex Pharma in a report on Thursday, May 3rd. LADENBURG THALM/SH SH lowered shares of Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Wednesday, June 13th. ValuEngine raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Jefferies Financial Group lowered shares of Flex Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, June 13th.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of Flex Pharma by 75.9% in the 1st quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock worth $301,000 after purchasing an additional 25,941 shares during the last quarter. Renaissance Technologies LLC grew 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 worth $314,000 after purchasing an additional 36,100 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Flex Pharma by 10,889.2% in the 1st quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock worth $188,000 after purchasing an additional 37,241 shares during the last quarter. 24.66% of the stock is currently owned by institutional investors and hedge funds.
FLKS stock traded up $0.04 on Monday, reaching $0.55. 121,700 shares of the company were exchanged, compared to its average volume of 239,384. Flex Pharma has a 12 month low of $0.50 and a 12 month high of $8.98. The firm has a market capitalization of $11.38 million, a P/E ratio of -0.28 and a beta of 2.81.
Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Friday, August 3rd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.05). Flex Pharma had a negative return on equity of 137.76% and a negative net margin of 3,092.50%. The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.20 million. equities analysts anticipate that Flex Pharma will post -1.28 EPS for the current fiscal year.
About Flex Pharma
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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