Zacks Investment Research upgraded shares of Flex Pharma (NASDAQ:FLKS) from a hold rating to a buy rating in a research report released on Friday morning. Zacks Investment Research currently has $4.75 target price on the biotechnology company’s stock.
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. “
FLKS has been the topic of several other research reports. Roth Capital began coverage on Flex Pharma in a research note on Thursday, September 7th. They issued a buy rating and a $14.00 price target on the stock. Cantor Fitzgerald reiterated a hold rating and issued a $10.00 price target on shares of Flex Pharma in a research note on Monday, November 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Flex Pharma currently has an average rating of Buy and a consensus price target of $9.75.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Monday, November 6th. The biotechnology company reported ($0.54) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. The firm had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.47 million. equities analysts forecast that Flex Pharma will post -2.48 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of FLKS. Ameriprise Financial Inc. increased its stake in shares of Flex Pharma by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after purchasing an additional 268,505 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of Flex Pharma during the 3rd quarter valued at $2,341,000. Royce & Associates LP boosted its holdings in shares of Flex Pharma by 29.0% during the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after acquiring an additional 70,210 shares in the last quarter. LMR Partners LLP acquired a new stake in shares of Flex Pharma during the 2nd quarter valued at $104,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Flex Pharma by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 487 shares in the last quarter. Institutional investors own 27.31% of the company’s stock.
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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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