Shares of Flex Pharma Inc (NASDAQ:FLKS) shot up 7% during trading on Monday . The company traded as high as $0.48 and last traded at $0.46. 632,700 shares were traded during mid-day trading, an increase of 154% from the average session volume of 249,543 shares. The stock had previously closed at $0.43.
A number of brokerages have recently commented on FLKS. Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a research note on Friday, September 21st. Jefferies Financial Group cut Flex Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. LADENBURG THALM/SH SH cut Flex Pharma from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research note on Wednesday, June 13th. Finally, ValuEngine raised Flex Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $14.30.
The company has a market capitalization of $8.31 million, a PE ratio of -0.24 and a beta of 2.54.
A number of hedge funds and other institutional investors have recently bought and sold shares of FLKS. Renaissance Technologies LLC increased its stake in Flex Pharma by 84.3% during the 2nd quarter. Renaissance Technologies LLC now owns 236,958 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 108,358 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Flex Pharma by 10,889.2% during the 1st 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 in the last quarter. Finally, Millennium Management LLC increased its stake in Flex Pharma by 75.9% during the 1st 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 in the last quarter. 19.65% of the stock is owned by institutional investors and hedge funds.
Flex Pharma Company Profile (NASDAQ:FLKS)
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.
Read More: Marijuana Stocks
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.