Flex Pharma (FLKS) Upgraded to “Hold” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Flex Pharma (NASDAQ:FLKS) from a sell rating to a hold rating in a research note released on Wednesday.

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. “

Several other equities analysts have also issued reports on the company. ValuEngine upgraded Flex Pharma from a sell rating to a hold rating in a research report on Saturday, June 2nd. LADENBURG THALM/SH SH lowered Flex Pharma from a buy rating to a neutral rating and set a $12.00 price objective on the stock. in a research report on Wednesday, June 13th. Finally, Jefferies Financial Group lowered Flex Pharma from a buy rating to a hold rating in a research report on Wednesday, June 13th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $14.30.

FLKS opened at $0.48 on Wednesday. Flex Pharma has a 1 year low of $0.44 and a 1 year high of $8.98. The company has a market cap of $8.94 million, a P/E ratio of -0.24 and a beta of 2.54.

Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Friday, August 3rd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the 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. analysts predict that Flex Pharma will post -1.28 earnings per share for the current year.

Several hedge funds have recently modified their holdings of FLKS. JPMorgan Chase & Co. grew its position 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 buying an additional 37,241 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Flex Pharma by 84.3% in the 2nd quarter. Renaissance Technologies LLC now owns 236,958 shares of the biotechnology company’s stock worth $223,000 after buying an additional 108,358 shares during the last quarter. Finally, Millennium Management LLC grew its position 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 buying an additional 25,941 shares during the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.

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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