$300,000.00 in Sales Expected for Flex Pharma Inc (FLKS) This Quarter

Analysts expect that Flex Pharma Inc (NASDAQ:FLKS) will post $300,000.00 in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Flex Pharma’s earnings, with the highest sales estimate coming in at $400,000.00 and the lowest estimate coming in at $250,000.00. Flex Pharma reported sales of $240,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 25%. The business is scheduled to issue its next earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Flex Pharma will report full year sales of $1.42 million for the current year, with estimates ranging from $1.36 million to $1.50 million. For the next year, analysts anticipate that the business will report sales of $11.30 million per share, with estimates ranging from $1.56 million to $26.73 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Flex Pharma.

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Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, March 7th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.10. The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.36 million. Flex Pharma had a negative return on equity of 85.02% and a negative net margin of 2,698.59%.

A number of equities analysts recently weighed in on FLKS shares. Zacks Investment Research cut Flex Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Roth Capital reissued a “buy” rating and set a $12.00 price objective on shares of Flex Pharma in a report on Wednesday, January 3rd. Cantor Fitzgerald reissued a “hold” rating and set a $10.00 price objective on shares of Flex Pharma in a report on Wednesday, January 17th. Ladenburg Thalmann assumed coverage on Flex Pharma in a research report on Thursday, January 25th. They set a “buy” rating and a $12.00 price target on the stock. Finally, ValuEngine upgraded Flex Pharma from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $8.80.

A number of institutional investors and hedge funds have recently bought and sold shares of FLKS. Granite Point Capital Management L.P. grew its position in Flex Pharma by 80.8% during the 4th quarter. Granite Point Capital Management L.P. now owns 71,520 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 31,961 shares during the last quarter. Renaissance Technologies LLC grew its position in Flex Pharma by 67.1% during the 4th quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock worth $314,000 after acquiring an additional 36,100 shares during the last quarter. Ameriprise Financial Inc. grew its position in Flex Pharma by 10.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock worth $2,457,000 after acquiring an additional 65,699 shares during the last quarter. Finally, Sphera Funds Management LTD. grew its position in Flex Pharma by 70.7% during the 4th quarter. Sphera Funds Management LTD. now owns 241,211 shares of the biotechnology company’s stock worth $4,339,000 after acquiring an additional 99,911 shares during the last quarter. Institutional investors and hedge funds own 28.96% of the company’s stock.

Shares of NASDAQ FLKS traded up $0.13 during trading hours on Friday, reaching $5.62. 11,864 shares of the stock traded hands, compared to its average volume of 88,657. Flex Pharma has a 52-week low of $2.68 and a 52-week high of $8.98.

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Flex Pharma Company Profile

Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps and spasms associated with neurological conditions and exercise-associated muscle cramps in the United States. The company operates through two segments, Consumer Operations and Drug Development.

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

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