Shares of Flex Pharma Inc (NASDAQ:FLKS) have received an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $14.30.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Flex Pharma from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a research report on Tuesday, June 19th. Jefferies Financial Group lowered Flex Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. LADENBURG THALM/SH SH lowered Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 price target on the stock. in a research report on Wednesday, June 13th. ValuEngine upgraded Flex Pharma from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Flex Pharma in a research report on Thursday, May 3rd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 valued at $301,000 after buying an additional 25,941 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Flex Pharma by 67.1% in the 4th 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 during the last quarter. Finally, 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 valued at $188,000 after buying an additional 37,241 shares during the last quarter. Hedge funds and other institutional investors own 27.80% of the company’s stock.
FLKS stock traded down $0.04 during midday trading on Friday, reaching $0.94. 193,213 shares of the stock were exchanged, compared to its average volume of 967,699. The firm has a market capitalization of $16.93 million, a P/E ratio of -0.47 and a beta of 2.87. Flex Pharma has a 52 week low of $0.92 and a 52 week high of $8.98.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings data on Wednesday, May 2nd. The biotechnology company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.30 million. Flex Pharma had a negative return on equity of 104.48% and a negative net margin of 2,842.07%. sell-side analysts anticipate that Flex Pharma will post -1.54 earnings per share for the current fiscal year.
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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