Wall Street analysts expect that Flex Pharma, Inc. (NASDAQ:FLKS) will announce earnings per share (EPS) of ($0.83) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Flex Pharma’s earnings. The lowest EPS estimate is ($1.42) and the highest is ($0.53). Flex Pharma reported earnings per share of ($0.41) during the same quarter last year, which suggests a negative year-over-year growth rate of 102.4%. The business is expected to report its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Flex Pharma will report full-year earnings of ($2.39) per share for the current year, with EPS estimates ranging from ($3.23) to ($2.08). For the next fiscal year, analysts forecast that the company will report earnings of ($2.14) per share, with EPS estimates ranging from ($3.68) to ($1.35). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. The business had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.47 million.
A number of analysts have issued reports on FLKS shares. Roth Capital started coverage on Flex Pharma in a research report on Thursday, September 7th. They issued a “buy” rating and a $14.00 target price for the company. Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $10.00 price target on shares of Flex Pharma in a research report on Monday, September 25th. 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’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.55.
Flex Pharma (FLKS) traded up $0.16 during trading hours on Thursday, reaching $3.79. The company’s stock had a trading volume of 57,200 shares, compared to its average volume of 54,624. Flex Pharma has a twelve month low of $2.68 and a twelve month high of $7.18.
Hedge funds and other institutional investors have recently made changes to their positions in the company. LMR Partners LLP purchased a new position in shares of Flex Pharma in the second quarter valued at $104,000. Bank of New York Mellon Corp grew its position in shares of Flex Pharma by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 487 shares in the last quarter. Royce & Associates LP grew its position 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 buying an additional 70,210 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in Flex Pharma during the third quarter worth about $2,341,000. Finally, Ameriprise Financial Inc. grew its position in Flex Pharma by 10.0% during the third quarter. Ameriprise Financial Inc. now owns 720,524 shares of the biotechnology company’s stock worth $2,457,000 after buying an additional 65,699 shares in the last quarter. Institutional investors own 27.80% of the company’s stock.
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.
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