Zacks Investment Research Upgrades Flex Pharma (FLKS) to Hold

Flex Pharma (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.

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. “

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reissued a “hold” rating and issued a $10.00 target price on shares of Flex Pharma in a research note on Monday, November 6th. Ladenburg Thalmann Financial Services assumed coverage on Flex Pharma in a research note on Thursday, January 25th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Roth Capital reissued a “buy” rating and issued a $12.00 target price on shares of Flex Pharma in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Flex Pharma currently has a consensus rating of “Buy” and a consensus target price of $9.79.

Flex Pharma (NASDAQ:FLKS) opened at $4.30 on Thursday. Flex Pharma has a one year low of $2.68 and a one year high of $5.93.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Flex Pharma by 10.0% during the third quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock worth $2,457,000 after purchasing an additional 65,699 shares during the period. Sphera Funds Management LTD. raised its position in shares of Flex Pharma by 70.7% during the fourth quarter. Sphera Funds Management LTD. now owns 241,211 shares of the biotechnology company’s stock worth $4,339,000 after purchasing an additional 99,911 shares during the period. Renaissance Technologies LLC raised its position in shares of Flex Pharma by 67.1% during the fourth 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 period. Finally, Granite Point Capital Management L.P. raised its position in shares of Flex Pharma by 80.8% during the fourth quarter. Granite Point Capital Management L.P. now owns 71,520 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 31,961 shares during the period. 27.26% of the stock is currently owned by institutional investors.

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Flex Pharma Company Profile

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.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

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