Trade Report: The Flex Pharma Inc. (FLKS) Upgraded to “Buy” at The Zacks Investment Research

The Flex Pharma Inc. (FLKS) Upgraded to “Buy” at The Zacks Investment Research

Zacks Investment Research upgraded shares of Flex Pharma Inc. (NASDAQ:FLKS) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $7.50 price target on the biotechnology company’s stock.

According to Zacks, “Flex Pharma, Inc. is a biotechnology company. The Company is involved in developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. Flex Pharma, Inc. is headquartered in Boston, Massachusetts. “

A number of other research firms have also recently commented on FLKS. Piper Jaffray Cos. reiterated a buy rating and set a $25.00 price objective on shares of Flex Pharma in a research report on Thursday, August 4th. Cantor Fitzgerald cut Flex Pharma from a buy rating to a hold rating and reduced their price objective for the company from $22.00 to $10.00 in a research report on Friday, October 14th. HC Wainwright restated a buy rating and issued a $40.00 price target on shares of Flex Pharma in a research report on Saturday, October 15th. Finally, JMP Securities restated a buy rating on shares of Flex Pharma in a research report on Thursday, November 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $20.25.

Flex Pharma (NASDAQ:FLKS) opened at 6.72 on Wednesday. Flex Pharma has a one year low of $4.55 and a one year high of $13.97. The stock’s market capitalization is $111.08 million. The company’s 50 day moving average price is $6.82 and its 200-day moving average price is $10.26.

Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, November 2nd. The biotechnology company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.07. Analysts expect that Flex Pharma will post ($2.54) earnings per share for the current year.

In other Flex Pharma news, insider Christoph H. Westphal acquired 7,000 shares of the company’s 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 completion of the purchase, the insider now directly owns 3,941,118 shares in the company, valued at approximately $28,809,572.58. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christoph H. Westphal acquired 8,870 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $5.70 per share, with a total value of $50,559.00. Following the purchase, the insider now 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. 43.35% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in FLKS. Primecap Management Co. CA raised its position in Flex Pharma by 24.6% in the second quarter. Primecap Management Co. CA now owns 790,911 shares of the biotechnology company’s stock worth $8,075,000 after buying an additional 156,190 shares during the period. BlackRock Fund Advisors raised its position in Flex Pharma by 34.2% in the second quarter. BlackRock Fund Advisors now owns 502,242 shares of the biotechnology company’s stock worth $5,128,000 after buying an additional 128,078 shares during the period. Oxford Asset Management acquired a new position in Flex Pharma during the second quarter worth $1,195,000. Massachusetts Financial Services Co. MA raised its position in Flex Pharma by 40.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 356,135 shares of the biotechnology company’s stock worth $3,636,000 after buying an additional 101,839 shares during the period. Finally, Ameriprise Financial Inc. raised its position in 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 period. 33.44% of the stock is owned by hedge funds and other institutional investors.

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.

Related posts

Leave a Comment