FY2017 Earnings Forecast for Flex Pharma, Inc. (NASDAQ:FLKS) Issued By Cantor Fitzgerald

Flex Pharma, Inc. (NASDAQ:FLKS) – Investment analysts at Cantor Fitzgerald upped their FY2017 earnings per share estimates for shares of Flex Pharma in a research report issued on Tuesday. Cantor Fitzgerald analyst M. Goldstein now expects that the biotechnology company will post earnings per share of ($2.15) for the year, up from their previous estimate of ($2.18). Cantor Fitzgerald also issued estimates for Flex Pharma’s FY2018 earnings at ($1.96) EPS.

A number of other brokerages have also recently commented on FLKS. Zacks Investment Research raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Jefferies Group LLC decreased their price objective on Flex Pharma from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Flex Pharma currently has a consensus rating of “Buy” and an average target price of $15.40.

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Shares of Flex Pharma (NASDAQ:FLKS) opened at 3.22 on Thursday. The company’s market capitalization is $55.66 million. The company’s 50-day moving average is $3.83 and its 200 day moving average is $3.92. Flex Pharma has a 12 month low of $3.01 and a 12 month high of $12.68.

Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.12. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $0.46 million. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%.

A number of hedge funds have recently modified their holdings of FLKS. Royce & Associates LP raised its stake in shares of Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock valued at $1,066,000 after buying an additional 174,000 shares during the period. Primecap Management Co. CA raised its stake in shares of Flex Pharma by 36.0% in the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock valued at $6,480,000 after buying an additional 390,200 shares during the period. Spark Investment Management LLC bought a new stake in shares of Flex Pharma during the first quarter valued at about $223,000. Bank of New York Mellon Corp raised its stake 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 buying an additional 487 shares during the period. Finally, C WorldWide Group Holding A S raised its stake in shares of Flex Pharma by 11.2% in the first quarter. C WorldWide Group Holding A S now owns 278,060 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 28,060 shares during the period. Hedge funds and other institutional investors own 29.17% 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.

Earnings History and Estimates for Flex Pharma (NASDAQ:FLKS)

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