Flex Pharma Inc (NASDAQ:FLKS) posted its quarterly earnings data on Wednesday. The biotechnology company reported ($0.48) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.36.
Shares of Flex Pharma (NASDAQ:FLKS) remained flat at $4.09 during mid-day trading on Friday. The company had a trading volume of 23,051 shares. Flex Pharma has a one year low of $3.90 and a one year high of $13.97. The stock has a 50 day moving average price of $4.38 and a 200-day moving average price of $6.49. The firm’s market cap is $68.60 million.
Hedge funds have recently modified their holdings of the stock. CAM Group Holding A S raised its stake in shares of Flex Pharma by 50.0% in the third quarter. CAM Group Holding A S now owns 225,000 shares of the biotechnology company’s stock valued at $2,650,000 after buying an additional 75,000 shares during the period. State Street Corp raised its stake in shares of Flex Pharma by 0.5% in the fourth quarter. State Street Corp now owns 137,777 shares of the biotechnology company’s stock valued at $730,000 after buying an additional 642 shares during the period. Finally, Royce & Associates LP raised its stake in shares of Flex Pharma by 3,000.0% in the fourth quarter. Royce & Associates LP now owns 68,200 shares of the biotechnology company’s stock valued at $360,000 after buying an additional 66,000 shares during the period. Institutional investors and hedge funds own 31.36% of the company’s stock.
A number of research firms recently commented on FLKS. Piper Jaffray Companies set a $12.00 price objective on shares of Flex Pharma and gave the company a “buy” rating in a research note on Wednesday, March 8th. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 price objective (down previously from $11.00) on shares of Flex Pharma in a research note on Saturday, March 11th. Finally, Zacks Investment Research lowered shares of Flex Pharma from a “buy” rating to a “hold” rating in a research note on Monday, December 12th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.00.
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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