Flex Pharma Inc (NASDAQ:FLKS) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.50.
Several research firms recently weighed in on FLKS. Zacks Investment Research upgraded Flex Pharma from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research report on Tuesday, June 19th. Jefferies Financial Group downgraded Flex Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, June 13th. Finally, LADENBURG THALM/SH SH downgraded Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 target price on the stock. in a research report on Wednesday, June 13th.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Flex Pharma by 10,889.2% in the first quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock valued at $188,000 after acquiring an additional 37,241 shares in the last quarter. Millennium Management LLC lifted its position in shares of Flex Pharma by 75.9% in the first 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 lifted its position in shares of Flex Pharma by 84.3% in the second 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. Institutional investors and hedge funds own 19.65% of the company’s stock.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings data on Friday, August 3rd. The biotechnology company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.05). Flex Pharma had a negative return on equity of 137.76% and a negative net margin of 3,092.50%. The firm had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.20 million. On average, research analysts anticipate that Flex Pharma will post -1.28 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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