Flex Pharma, Inc. (FLKS) Announces Earnings Results, Beats Estimates By $0.06 EPS
Flex Pharma, Inc. (NASDAQ:FLKS) posted its earnings results on Monday. The biotechnology company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.06, Bloomberg Earnings reports. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. The business had revenue of $0.41 million for the quarter, compared to analyst estimates of $0.47 million.
Flex Pharma (NASDAQ:FLKS) traded up $0.02 during trading on Tuesday, reaching $3.50. 600 shares of the company traded hands, compared to its average volume of 42,818.
A number of analysts have weighed in on FLKS shares. Zacks Investment Research raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Roth Capital started coverage on shares of Flex Pharma in a report on Thursday, September 7th. They set a “buy” rating and a $14.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 target price on shares of Flex Pharma in a research report on Monday, September 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Flex Pharma has an average rating of “Buy” and a consensus target price of $9.55.
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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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