Flex Pharma Inc. (NASDAQ:FLKS) received a $10.00 price target from equities research analysts at Cantor Fitzgerald in a report issued on Wednesday. The firm presently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 48.81% from the stock’s previous close.
FLKS has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Flex Pharma from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. Piper Jaffray Cos. reissued a “buy” rating and set a $25.00 price target on shares of Flex Pharma in a research note on Thursday, August 4th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Flex Pharma in a research note on Saturday, October 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.25.
Shares of Flex Pharma (NASDAQ:FLKS) traded up 0.60% during mid-day trading on Wednesday, reaching $6.72. 25,629 shares of the company’s stock traded hands. The firm has a 50-day moving average of $6.82 and a 200 day moving average of $10.26. Flex Pharma has a 12-month low of $4.55 and a 12-month high of $13.97. The company’s market cap is $111.08 million.
Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.65) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.07. Equities analysts forecast that Flex Pharma will post ($2.54) EPS for the current year.
In related news, insider Christoph H. Westphal purchased 7,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average price of $7.31 per share, with a total value of $51,170.00. Following the transaction, the insider now directly owns 3,941,118 shares in the company, valued at $28,809,572.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christoph H. Westphal purchased 8,870 shares of the stock in a transaction dated Monday, November 7th. The stock was bought at an average cost of $5.70 per share, with a total value of $50,559.00. Following the transaction, the insider now owns 3,934,118 shares in the company, valued at $22,424,472.60. The disclosure for this purchase can be found here. Insiders own 43.35% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Strs Ohio raised its position in Flex Pharma by 444.4% in the second quarter. Strs Ohio now owns 9,800 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 8,000 shares in the last quarter. Citadel Advisors LLC bought a new position in Flex Pharma during the second quarter valued at about $104,000. Parametric Portfolio Associates LLC bought a new position in Flex Pharma during the second quarter valued at about $109,000. Acadian Asset Management LLC bought a new position in Flex Pharma during the second quarter valued at about $114,000. Finally, Highbridge Capital Management LLC bought a new position in Flex Pharma during the second quarter valued at about $116,000. 33.21% of the stock is owned by hedge funds and other institutional investors.
Flex Pharma Company Profile