$360,000.00 in Sales Expected for Flex Pharma Inc (FLKS) This Quarter

Wall Street brokerages predict that Flex Pharma Inc (NASDAQ:FLKS) will report $360,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Flex Pharma’s earnings. The highest sales estimate is $400,000.00 and the lowest is $320,000.00. Flex Pharma posted sales of $300,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is scheduled to issue its next earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that Flex Pharma will report full-year sales of $360,000.00 for the current year, with estimates ranging from $1.32 million to $1.40 million. For the next year, analysts expect that the company will post sales of $1.71 million per share, with estimates ranging from $1.41 million to $2.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Flex Pharma.

A number of brokerages have recently commented on FLKS. Zacks Investment Research upgraded shares of Flex Pharma from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Ladenburg Thalmann Financial Services began coverage on shares of Flex Pharma in a report on Thursday, January 25th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 price target on shares of Flex Pharma in a report on Wednesday, January 17th. Finally, Roth Capital reiterated a “buy” rating and set a $12.00 price target on shares of Flex Pharma in a report 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.79.

Shares of Flex Pharma (NASDAQ FLKS) opened at $4.09 on Friday. The company has a market cap of $72.43, a PE ratio of -2.02 and a beta of 3.59. Flex Pharma has a twelve month low of $2.68 and a twelve month high of $5.93.

A number of hedge funds have recently made changes to their positions in FLKS. Ameriprise Financial Inc. lifted its position in Flex Pharma by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after buying an additional 268,505 shares in the last quarter. Sphera Funds Management LTD. acquired a new position in Flex Pharma during the third quarter valued at approximately $2,341,000. Granite Point Capital Management L.P. lifted its position in 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 valued at $250,000 after buying an additional 31,961 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Flex Pharma by 67.1% during the fourth quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock valued at $314,000 after buying an additional 36,100 shares in the last quarter. 28.32% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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Earnings History and Estimates for Flex Pharma (NASDAQ:FLKS)

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