Cantor Fitzgerald analyst Mara Goldstein maintained a Hold rating on Flex Pharma (NASDAQ: FLKS) today and set a price target of $6. The company’s shares opened today at $4.42.
Goldstein noted:
“MS Spasticity Phase II Data. In March, FLKS reported top-line data for FLX-787 in MS. The data showed a statistically significant reduction of 27.3% (p=0.001) in the frequency of cramps and an increase of 1.4 days in the number of cramp-free days in a 14-day period. This is positive and suggests that there is activity, but it will need to be validated in a larger setting.”
According to TipRanks.com, Goldstein is ranked 0 out of 5 stars with an average return of -3.3% and a 36.7% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Karyopharm Therapeutics, and CytomX Therapeutics Inc.
Flex Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $17.67.
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Based on Flex Pharma’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $283K and GAAP net loss of $8.03 million. In comparison, last year the company earned revenue of $242.5K and had a GAAP net loss of $8.27 million.
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Flex Pharma, Inc. operates as a biotechnology company. It engages in developing treatments for exercise-associated muscle cramps, nocturnal leg cramps and spasms associated with severe neuromuscular conditions. The company operates through two segments: Consumer Operations and Drug Development.
