Flex Pharma Gets a Hold Rating from Cantor Fitzgerald

By Austin Angelo

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 closed yesterday at $4.18.

Goldstein commented:

“Our rating on FLKS is Neutral. Our price target is based on a risk-adjusted discounted revenue NPV model of FLX-787 in the three indications currently being studied. We had removed HOTSHOT from our model in 1Q18 when the company announced its desire to explore alternatives for this product. Section may be found on pages 4 – 5.Our $6 price target is based on a risk-adjusted discounted revenue NPV model of FLX-787 in the three indications currently being studied (MS, ALS, and CMT).”

According to TipRanks.com, Goldstein is a 2-star analyst with an average return of 0.4% and a 40.4% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, CytomX Therapeutics Inc, and Genocea Biosciences.

Flex Pharma has an analyst consensus of Strong Buy, with a price target consensus of $16.25.

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Based on Flex Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.22 million. In comparison, last year the company 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 the following business segments: Consumer Operations and Drug Development.