Zacks Investment Research lowered shares of Flex Pharma (NASDAQ:FLKS) from a hold rating to a sell rating in a research report report published on Wednesday, January 3rd.
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 research analysts also recently commented on FLKS. Cantor Fitzgerald reaffirmed a hold rating and set a $10.00 price objective on shares of Flex Pharma in a research report on Monday, September 25th. Roth Capital assumed coverage on shares of Flex Pharma in a research report on Thursday, September 7th. They issued a buy rating and a $14.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $9.35.
Shares of Flex Pharma (NASDAQ:FLKS) opened at $4.20 on Wednesday. Flex Pharma has a fifty-two week low of $2.68 and a fifty-two week high of $5.93.
Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative net margin of 2,655.19% and a negative return on equity of 71.39%. The business had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.47 million. sell-side analysts predict that Flex Pharma will post -2.39 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in FLKS. Royce & Associates LP raised its stake in shares of Flex Pharma by 29.0% in the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after buying an additional 70,210 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in shares of Flex Pharma in the 3rd quarter valued at $2,341,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Flex Pharma by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock valued at $2,457,000 after buying an additional 65,699 shares in the last quarter. Hedge funds and other institutional investors own 27.31% of the company’s stock.
WARNING: This piece was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece on another domain, it was stolen and republished in violation of US & international trademark and copyright law. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/01/13/zacks-investment-research-lowers-flex-pharma-flks-to-sell.html.
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.
Get a free copy of the Zacks research report on Flex Pharma (FLKS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flex Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma and related companies with MarketBeat.com's FREE daily email newsletter.