Fmr LLC cut its position in Flex Pharma, Inc. (NASDAQ:FLKS) by 13.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,734 shares of the biotechnology company’s stock after selling 34,100 shares during the period. Fmr LLC owned approximately 1.27% of Flex Pharma worth $838,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. LMR Partners LLP acquired a new position in shares of Flex Pharma in the second quarter valued at about $104,000. Bank of New York Mellon Corp grew its holdings in Flex Pharma by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 487 shares during the period. Royce & Associates LP grew its holdings in Flex Pharma by 29.0% during the second quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock worth $1,203,000 after acquiring an additional 70,210 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Flex Pharma by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock worth $2,520,000 after acquiring an additional 268,505 shares during the period. 27.80% of the stock is currently owned by institutional investors and hedge funds.
Flex Pharma, Inc. (FLKS) opened at $3.79 on Friday. Flex Pharma, Inc. has a 1 year low of $2.68 and a 1 year high of $7.18.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.06. The company had revenue of $0.41 million for the quarter, compared to the consensus estimate of $0.47 million. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. analysts anticipate that Flex Pharma, Inc. will post -2.38 EPS for the current year.
Several research firms recently commented on FLKS. Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a report on Thursday. Cantor Fitzgerald reaffirmed a “hold” rating and set a $10.00 target price on shares of Flex Pharma in a report on Monday, November 6th. Finally, Roth Capital began coverage on Flex Pharma in a report on Thursday, September 7th. They set a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.55.
Flex Pharma Profile
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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