Flamel Technologies SA (FLML) Upgraded to “Buy” by 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 note issued on Tuesday. The firm presently has a $14.00 target price on the stock. Zacks Investment Research’s price objective indicates 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) “
FLML has been the subject of a number of other reports. JMP Securities reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Flamel Technologies SA in a research note on Wednesday, September 28th. Leerink Swann reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Flamel Technologies SA in a research note on Tuesday, September 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $17.70.
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Flamel Technologies SA (NASDAQ:FLML) traded up 0.98% during mid-day trading on Tuesday, reaching $12.39. 68,386 shares of the company’s stock were exchanged. The company has a market cap of $510.98 million, a PE 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 has a 52-week low of $7.56 and a 52-week high of $18.71.
Flamel Technologies SA (NASDAQ:FLML) last announced its quarterly earnings results on Monday, August 8th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by $0.08. The company earned $38.90 million during the quarter, compared to the consensus estimate of $32.80 million. Flamel Technologies SA had a net margin of 12.11% and a return on equity of 25.19%. The business’s revenue was down 20.0% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Equities analysts predict that Flamel Technologies SA will post ($1.08) earnings per share for the current fiscal year.
In other news, Director Francis Fildes sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $13.45, for a total transaction of $201,750.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $201,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael S. Anderson purchased 2,000 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were acquired at an average cost of $14.12 per share, with a total value of $28,240.00. The disclosure for this purchase can be found here. Corporate insiders own 4.45% of the company’s stock.
Several institutional investors have recently modified their holdings of FLML. JPMorgan Chase & Co. boosted its position in shares of Flamel Technologies SA by 10.7% in the first quarter. JPMorgan Chase & Co. now owns 316,992 shares of the company’s stock valued at $3,499,000 after buying an additional 30,760 shares in the last quarter. Bogle Investment Management L P DE boosted its position in shares of Flamel Technologies SA by 2,270.4% in the first quarter. Bogle Investment Management L P DE now owns 269,044 shares of the company’s stock valued at $2,970,000 after buying an additional 257,694 shares in the last quarter. Opus Point Partners Management LLC boosted its position in shares of Flamel Technologies SA by 21.7% in the first quarter. Opus Point Partners Management LLC now owns 69,109 shares of the company’s stock valued at $763,000 after buying an additional 12,321 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Flamel Technologies SA by 240.2% in the second quarter. Acadian Asset Management LLC now owns 1,617,223 shares of the company’s stock valued at $17,372,000 after buying an additional 1,141,783 shares in the last quarter. Finally, Smith Asset Management Group LP acquired a new position in shares of Flamel Technologies SA during the second quarter valued at $320,000. 70.35% of the stock is 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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