Flex Pharma (NASDAQ:FLKS) issued its earnings results on Monday. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06, MarketWatch Earnings reports. Flex Pharma had a negative net margin of 3,092.50% and a negative return on equity of 137.76%. The firm had revenue of $0.25 million during the quarter.
Shares of FLKS stock traded down $0.03 during trading hours on Tuesday, reaching $0.54. The stock had a trading volume of 25,545 shares, compared to its average volume of 4,052,971. Flex Pharma has a 12 month low of $0.39 and a 12 month high of $8.98. The firm has a market capitalization of $11.29 million, a P/E ratio of -0.27 and a beta of 1.85.
FLKS has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Flex Pharma from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. ValuEngine upgraded shares of Flex Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.30.
In other news, major shareholder Christoph H. Westphal sold 3,212,861 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $0.92, for a total value of $2,955,832.12. Following the completion of the transaction, the insider now directly owns 3,941,118 shares in the company, valued at $3,625,828.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.62% of the stock is currently owned by company insiders.
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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