Franklin Resources Inc. continued to hold its position in shares of Flex Pharma Inc (NASDAQ:FLKS) during the fourth quarter, Holdings Channel reports. The institutional investor owned 452,600 shares of the biotechnology company’s stock at the end of the fourth quarter. Franklin Resources Inc.’s holdings in Flex Pharma were worth $2,390,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CAM Group Holding A S increased its position in shares of Flex Pharma by 50.0% in the third quarter. CAM Group Holding A S now owns 225,000 shares of the biotechnology company’s stock worth $2,650,000 after buying an additional 75,000 shares during the period. State Street Corp increased its position in shares of Flex Pharma by 0.5% in the fourth quarter. State Street Corp now owns 137,777 shares of the biotechnology company’s stock worth $730,000 after buying an additional 642 shares during the period. Finally, Royce & Associates LP increased its position in shares of Flex Pharma by 3,000.0% in the fourth quarter. Royce & Associates LP now owns 68,200 shares of the biotechnology company’s stock worth $360,000 after buying an additional 66,000 shares during the period. Institutional investors own 31.36% of the company’s stock.
Shares of Flex Pharma Inc (NASDAQ:FLKS) opened at 4.26 on Monday. The company’s market capitalization is $71.45 million. The firm has a 50-day moving average price of $4.42 and a 200-day moving average price of $6.71. Flex Pharma Inc has a one year low of $3.90 and a one year high of $13.97.
Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, March 8th. The biotechnology company reported ($0.48) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.26. Equities analysts forecast that Flex Pharma Inc will post ($2.67) earnings per share for the current year.
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A number of equities analysts have recently issued reports on FLKS shares. Zacks Investment Research upgraded Flex Pharma from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Wednesday, November 23rd. Piper Jaffray Companies set a $15.00 price objective on Flex Pharma and gave the stock a “buy” rating in a research report on Tuesday, January 24th. Finally, Jefferies Group LLC restated a “buy” rating and set a $9.00 price objective (down from $11.00) on shares of Flex Pharma in a research report on Saturday, March 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Flex Pharma currently has an average rating of “Buy” and a consensus price target of $17.00.
Flex Pharma Company Profile
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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