Analysts Expect Flex Pharma, Inc. (FLKS) Will Announce Quarterly Sales of $470,000.00
Brokerages expect that Flex Pharma, Inc. (NASDAQ:FLKS) will announce sales of $470,000.00 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Flex Pharma’s earnings, with the highest sales estimate coming in at $600,000.00 and the lowest estimate coming in at $390,000.00. Flex Pharma reported sales of $600,000.00 during the same quarter last year, which would suggest a negative year over year growth rate of 21.7%. The company is scheduled to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Flex Pharma will report full-year sales of $470,000.00 for the current year, with estimates ranging from $1.32 million to $1.60 million. For the next year, analysts anticipate that the company will report sales of $4.29 million per share, with estimates ranging from $1.43 million to $6.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. The company had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $0.46 million.
Several analysts have commented on FLKS shares. Zacks Investment Research upgraded shares of Flex Pharma from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research note on Tuesday. Cantor Fitzgerald restated a “hold” rating and set a $10.00 target price on shares of Flex Pharma in a research report on Monday, September 25th. Finally, Roth Capital started coverage on Flex Pharma in a report on Thursday, September 7th. They issued a “buy” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $14.63.
Institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in Flex Pharma during the second quarter worth approximately $104,000. Bank of New York Mellon Corp boosted its holdings 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 acquiring an additional 487 shares during the period. Spark Investment Management LLC purchased a new position in shares of Flex Pharma during the first quarter worth approximately $223,000. Royce & Associates LP grew its position in shares of Flex Pharma by 255.1% during the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock worth $1,066,000 after acquiring an additional 174,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of 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 last quarter. 27.74% of the stock is owned by institutional investors and hedge funds.
Shares of Flex Pharma (FLKS) traded up 1.19% during mid-day trading on Wednesday, hitting $3.40. The company had a trading volume of 27,752 shares. The company has a 50-day moving average price of $3.44 and a 200-day moving average price of $3.44. Flex Pharma has a 1-year low of $3.26 and a 1-year high of $11.74. The company’s market capitalization is $58.77 million.
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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