Zacks Investment Research cut shares of Flex Pharma (NASDAQ:FLKS) from a hold rating to a sell rating in a research report released on Wednesday morning.

According to Zacks, “Flex Pharma, Inc. is a biotechnology company. The Company is involved in developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. Flex Pharma, Inc. is headquartered in Boston, Massachusetts. “

Several other research analysts also recently weighed in on FLKS. Roth Capital initiated coverage on Flex Pharma in a report on Thursday, September 7th. They issued a buy rating and a $14.00 price target for the company. Cantor Fitzgerald reiterated a hold rating and issued a $10.00 price target on shares of Flex Pharma in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $9.35.

Flex Pharma (NASDAQ:FLKS) opened at $3.86 on Wednesday. The stock has a market capitalization of $74.38 and a P/E ratio of -1.91. Flex Pharma has a 12-month low of $2.68 and a 12-month high of $5.93.

Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.06. The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.47 million. Flex Pharma had a negative return on equity of 71.39% and a negative net margin of 2,655.19%. research analysts forecast that Flex Pharma will post -2.39 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of FLKS. Ameriprise Financial Inc. raised its holdings in Flex Pharma by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after acquiring an additional 268,505 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Flex Pharma during the 3rd quarter valued at $2,341,000. Finally, Royce & Associates LP grew its stake in shares of Flex Pharma by 29.0% during the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock valued at $1,203,000 after buying an additional 70,210 shares during the period. 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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