In a report released today, Joshua Schimmer from Piper Jaffray reiterated an Overweight rating on Flex Pharma (NASDAQ: FLKS), with a price target of $25. The company’s shares opened today at $11.51, close to its 52-week low of $9.23.
Schimmer noted, “This morning FLKS reported 3Q15 results and updated next steps for both the medical and consumer sides. The company continues to make progress and execute in both the consumer and medical opportunities and we believe both aspects of the company are attractive and offer complementary risk/reward profiles to investors. On the medical side, we believe the recent data describing potent single molecule formulations of TRPA1 and TRPV1 agonists highlights the unique and elegant approach to treating muscle cramps and other neurological disorders. On the consumer side, the team continues to actively prepare the market for launch next year with focused efforts across social media and digital / print advertising as well as partnerships with key players. The company is hosting an Analyst Day on November 10 and ended the quarter with ~$99 M in cash.”
Flex Pharma has an analyst consensus of Moderate Buy.
The company has a one year high of $24.82 and a one year low of $9.23. Currently, Flex Pharma has an average volume of 70.51k.
Unlike Piper Jaffray`s latest rating, based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock.
According to TipRanks.com, Schimmer is a 1-star analyst with an average return of -1.9% and a 44.5% success rate. Schimmer covers the Healthcare sector, focusing on stocks such as Bellicum Pharmaceuticals, Alexion Pharmaceuticals, and Infotek Pharmaceuticals.
Flex Pharma Inc is a biotechnology company. The Company is engaged in developing proprietary treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions.