Flamel Technologies SA (FLML) Lifted to Buy at Zacks Investment Research
Flamel Technologies SA (NASDAQ:FLML) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $14.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.99% from the company’s current price.
According to Zacks, “Flamel Technologies S.A. is principally engaged in the development of advanced polymer technologies for unique medicinal applications. To meet important medical needs and develop commercially valuable products, they are building on their primary technology platforms: the Medusa system for the controlled peritoneal delivery of proteins and peptides, and the Micropump system for the controlled delivery of certain oral drugs. (press release) “
A number of other brokerages also recently issued reports on FLML. Leerink Swann reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Flamel Technologies SA in a research report on Tuesday, September 27th. JMP Securities reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Flamel Technologies SA in a research report on Wednesday, September 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $17.70.
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Flamel Technologies SA (NASDAQ:FLML) traded up 0.98% on Tuesday, reaching $12.39. 68,386 shares of the company’s stock traded hands. Flamel Technologies SA has a 12-month low of $7.56 and a 12-month high of $18.71. The stock has a market cap of $510.98 million, a price-to-earnings ratio of 30.00 and a beta of 1.42. The stock has a 50 day moving average price of $13.27 and a 200 day moving average price of $11.94.
Flamel Technologies SA (NASDAQ:FLML) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.08. Flamel Technologies SA had a return on equity of 25.19% and a net margin of 12.11%. The firm earned $38.90 million during the quarter, compared to analysts’ expectations of $32.80 million. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s quarterly revenue was down 20.0% on a year-over-year basis. Analysts forecast that Flamel Technologies SA will post ($1.08) EPS for the current year.
In related news, CEO Michael S. Anderson bought 5,000 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were bought at an average price of $14.30 per share, with a total value of $71,500.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Francis Fildes sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $13.45, for a total transaction of $201,750.00. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $201,750. The disclosure for this sale can be found here. Company insiders own 4.45% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its stake in shares of Flamel Technologies SA by 0.6% in the second quarter. ProShare Advisors LLC now owns 29,957 shares of the company’s stock valued at $322,000 after buying an additional 171 shares during the last quarter. State Street Corp boosted its stake in shares of Flamel Technologies SA by 2.6% in the second quarter. State Street Corp now owns 30,682 shares of the company’s stock valued at $330,000 after buying an additional 787 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Flamel Technologies SA by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 351,263 shares of the company’s stock valued at $3,773,000 after buying an additional 4,206 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Flamel Technologies SA by 11.4% in the second quarter. Stifel Financial Corp now owns 49,000 shares of the company’s stock valued at $1,187,000 after buying an additional 5,000 shares during the last quarter. Finally, Falcon Point Capital LLC boosted its stake in shares of Flamel Technologies SA by 1.1% in the second quarter. Falcon Point Capital LLC now owns 1,015,841 shares of the company’s stock valued at $10,910,000 after buying an additional 10,973 shares during the last quarter. 70.35% of the stock is currently owned by institutional investors.
About Flamel Technologies SA
Flamel Technologies SA is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of pharmaceutical products, including controlled-release therapeutic products based on its polymer based technology. The Company has a balanced business model consisting of an Unapproved Marketed Drugs (UMDs) business with over two approved products in the United States, Bloxiverz (neostigmine methylsulfate injection) and Vazculep (phenylephrine hydrochloride injection) that are marketed; a branded pediatric business, and a branded business, focusing on the development of products utilizing Flamel’s drug delivery platforms.
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