Flex Pharma (FLKS) Stock Price Down 39.1%

Flex Pharma Inc (NASDAQ:FLKS) shares traded down 39.1% during mid-day trading on Thursday . The company traded as low as $1.04 and last traded at $1.53. 112,710 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 97,562 shares. The stock had previously closed at $1.10.

A number of research analysts have issued reports on the stock. ValuEngine raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Jefferies Financial Group cut shares of Flex Pharma from a “buy” rating to a “hold” rating in a report on Wednesday. LADENBURG THALM/SH SH cut shares of Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 target price for the company. in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Flex Pharma in a report on Thursday, May 3rd. Finally, Zacks Investment Research cut shares of Flex Pharma from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $15.20.

The firm has a market capitalization of $75.48 million, a PE ratio of -0.74 and a beta of 2.87.

Flex Pharma (NASDAQ:FLKS) last issued its earnings results on Wednesday, May 2nd. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.04. Flex Pharma had a negative net margin of 2,842.07% and a negative return on equity of 104.48%. The firm had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.30 million. equities analysts anticipate that Flex Pharma Inc will post -1.7 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Flex Pharma by 10,889.2% during the first quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock worth $188,000 after purchasing an additional 37,241 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Flex Pharma by 75.9% during the first quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock worth $301,000 after purchasing an additional 25,941 shares during the last quarter. Granite Point Capital Management L.P. raised its holdings in shares of Flex Pharma by 80.8% during the fourth quarter. Granite Point Capital Management L.P. now owns 71,520 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 31,961 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Flex Pharma by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock valued at $314,000 after buying an additional 36,100 shares in the last quarter. Finally, Sphera Funds Management LTD. increased its holdings in Flex Pharma by 70.7% in the fourth quarter. Sphera Funds Management LTD. now owns 241,211 shares of the biotechnology company’s stock valued at $4,339,000 after buying an additional 99,911 shares in the last quarter. 27.80% of the stock is owned by hedge funds and other institutional investors.

About Flex Pharma

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.

Receive News & Ratings for Flex Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply