ValuEngine upgraded shares of Flex Pharma (NASDAQ:FLKS) from a hold rating to a buy rating in a research report report published on Thursday.
Separately, Zacks Investment Research lowered Flex Pharma from a buy rating to a sell rating in a research report on Tuesday, August 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Flex Pharma has a consensus rating of Hold and a consensus price target of $14.30.
Shares of NASDAQ:FLKS traded down $0.04 during midday trading on Thursday, reaching $0.58. The company had a trading volume of 11,542 shares, compared to its average volume of 4,052,971. Flex Pharma has a 1-year low of $0.39 and a 1-year high of $8.98. The firm has a market capitalization of $11.29 million, a price-to-earnings ratio of -0.29 and a beta of 1.85.
In related news, major shareholder Christoph H. Westphal sold 3,212,861 shares of the stock in a transaction on Tuesday, October 16th. The stock was 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 owns 3,941,118 shares in the company, valued at approximately $3,625,828.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.62% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Flex Pharma by 10,889.2% during 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. Millennium Management LLC raised its stake 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 acquiring an additional 25,941 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Flex Pharma by 84.3% in the 2nd quarter. Renaissance Technologies LLC now owns 236,958 shares of the biotechnology company’s stock valued at $223,000 after acquiring an additional 108,358 shares in the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.
About Flex Pharma
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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