Flex Pharma (NASDAQ:FLKS)‘s stock had its “buy” rating reissued by investment analysts at Roth Capital in a research report issued to clients and investors on Wednesday. They currently have a $12.00 price objective on the biotechnology company’s stock. Roth Capital’s price target suggests a potential upside of 237.08% from the company’s previous close.
A number of other analysts have also weighed in on FLKS. Cantor Fitzgerald reiterated a “hold” rating and issued a $10.00 price objective on shares of Flex Pharma in a research note on Monday, September 25th. Zacks Investment Research upgraded shares of Flex Pharma from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.35.
Shares of Flex Pharma (FLKS) traded up $0.07 during trading on Wednesday, reaching $3.56. 25,000 shares of the company’s stock were exchanged, compared to its average volume of 64,050. Flex Pharma has a twelve month low of $2.68 and a twelve month high of $5.99. The firm has a market cap of $62.72, a price-to-earnings ratio of -1.76 and a beta of 3.54.
Several large investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted 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 buying an additional 70,210 shares in the last quarter. Sphera Funds Management LTD. purchased a new stake in Flex Pharma during the third quarter worth $2,341,000. Finally, Ameriprise Financial Inc. boosted its holdings 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. Hedge funds and other institutional investors own 27.31% of the company’s stock.
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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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