Flex Pharma (FLKS) Lifted to Hold at Zacks Investment Research

Flex Pharma (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, February 15th.

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. “

A number of other research firms have also recently weighed in on FLKS. Cantor Fitzgerald reaffirmed a “hold” rating and set a $10.00 price target on shares of Flex Pharma in a report on Monday, November 6th. 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. Finally, Ladenburg Thalmann Financial Services initiated coverage on Flex Pharma in a research note on Thursday, January 25th. They issued a “buy” rating and a $12.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Flex Pharma currently has a consensus rating of “Buy” and an average target price of $9.79.

Shares of Flex Pharma (NASDAQ:FLKS) traded down $0.19 during trading hours on Thursday, reaching $4.09. The company had a trading volume of 73,421 shares, compared to its average volume of 67,060. Flex Pharma has a 1 year low of $2.68 and a 1 year high of $5.93. The company has a market cap of $72.43, a P/E ratio of -2.02 and a beta of 3.59.

A number of hedge funds have recently bought and sold shares of FLKS. Ameriprise Financial Inc. lifted its holdings in Flex Pharma by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock worth $2,520,000 after acquiring an additional 268,505 shares in the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of Flex Pharma in the 3rd quarter valued at about $2,341,000. Renaissance Technologies LLC increased its position in shares of Flex Pharma by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock valued at $314,000 after acquiring an additional 36,100 shares during the last quarter. Finally, Granite Point Capital Management L.P. increased its position in shares of Flex Pharma by 80.8% in 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 acquiring an additional 31,961 shares during the last quarter. Hedge funds and other institutional investors own 28.32% of the company’s stock.

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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.

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