Flamel Technologies S.A. (NASDAQ:AVDL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

Flamel Technologies (NASDAQ AVDL) traded down 0.32% during midday trading on Monday, reaching $9.23. 104,856 shares of the company traded hands. The stock’s market capitalization is $381.90 million. The company has a 50 day moving average price of $10.49 and a 200-day moving average price of $10.03. Flamel Technologies has a one year low of $8.75 and a one year high of $15.45.

Flamel Technologies (NASDAQ:AVDL) last issued its earnings results on Tuesday, May 9th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.19. Flamel Technologies had a negative net margin of 7.28% and a positive return on equity of 14.49%. The company had revenue of $52.50 million for the quarter, compared to analysts’ expectations of $46.01 million. Flamel Technologies’s revenue was up 45.0% on a year-over-year basis. Analysts forecast that Flamel Technologies will post $0.50 EPS for the current fiscal year.

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In other Flamel Technologies news, Director Guillaume Cerutti sold 26,560 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $10.46, for a total transaction of $277,817.60. Following the transaction, the director now directly owns 23,440 shares in the company, valued at approximately $245,182.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig R. Stapleton bought 31,013 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were acquired at an average price of $9.85 per share, for a total transaction of $305,478.05. Following the completion of the acquisition, the director now owns 507,678 shares in the company, valued at $5,000,628.30. The disclosure for this purchase can be found here. 5.07% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Columbus Circle Investors boosted its position in shares of Flamel Technologies by 16.7% in the second quarter. Columbus Circle Investors now owns 51,137 shares of the company’s stock valued at $564,000 after buying an additional 7,315 shares during the last quarter. Alps Advisors Inc. acquired a new position in shares of Flamel Technologies during the second quarter valued at about $411,000. Trexquant Investment LP boosted its position in shares of Flamel Technologies by 30.7% in the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock valued at $336,000 after buying an additional 7,169 shares during the last quarter. Sei Investments Co. boosted its position in shares of Flamel Technologies by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after buying an additional 2,900 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Flamel Technologies by 27.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 42,090 shares of the company’s stock valued at $464,000 after buying an additional 9,175 shares during the last quarter. Institutional investors own 71.03% of the company’s stock.

Flamel Technologies Company Profile

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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