The Flex Pharma Inc. (FLKS) Given a $15.00 Price Target at Piper Jaffray Cos.

The Flex Pharma Inc. (FLKS) Given a $15.00 Price Target at Piper Jaffray Cos.

Flex Pharma Inc. (NASDAQ:FLKS) has been assigned a $15.00 price target by investment analysts at Piper Jaffray Cos. in a report released on Wednesday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Cos.’s price target would suggest a potential upside of 123.21% from the stock’s current price.

Several other research analysts have also commented on FLKS. Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Flex Pharma in a research report on Saturday, October 15th. Finally, Cantor Fitzgerald lowered Flex Pharma from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $10.00 in a research report on Friday, October 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.25.

Flex Pharma (NASDAQ:FLKS) traded up 0.60% during midday trading on Wednesday, reaching $6.72. The company’s stock had a trading volume of 25,629 shares. The company has a 50 day moving average price of $6.82 and a 200 day moving average price of $10.26. The firm’s market cap is $111.08 million. Flex Pharma has a 1-year low of $4.55 and a 1-year high of $13.97.

Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.07. On average, equities research analysts expect 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 firm’s stock in a transaction dated Tuesday, November 8th. The shares were acquired at an average cost of $7.31 per share, with a total value of $51,170.00. Following the completion of the purchase, the insider now directly owns 3,941,118 shares of the company’s stock, valued at $28,809,572.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christoph H. Westphal purchased 8,870 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $5.70 per share, for a total transaction of $50,559.00. Following the completion of the purchase, the insider now directly owns 3,934,118 shares of the company’s stock, valued at $22,424,472.60. The disclosure for this purchase can be found here. Company insiders own 43.35% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Flex Pharma by 25.5% in the first quarter. JPMorgan Chase & Co. now owns 283,682 shares of the biotechnology company’s stock valued at $3,112,000 after buying an additional 57,729 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Flex Pharma by 33.2% in the second quarter. Bank of New York Mellon Corp now owns 41,313 shares of the biotechnology company’s stock worth $422,000 after buying an additional 10,297 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Flex Pharma by 88.0% in the second quarter. California State Teachers Retirement System now owns 22,325 shares of the biotechnology company’s stock worth $228,000 after buying an additional 10,451 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Flex Pharma by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 922,139 shares of the biotechnology company’s stock worth $9,434,000 after buying an additional 85,837 shares during the last quarter. Finally, Oxford Asset Management acquired a new position in shares of Flex Pharma during the second quarter worth about $1,195,000. 33.21% of the stock is currently owned by institutional investors and hedge funds.

Flex Pharma Company Profile

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