Q2 2017 EPS Estimates for Flamel Technologies S.A. (AVDL) Reduced by SunTrust Banks
Flamel Technologies S.A. (NASDAQ:AVDL) – Equities research analysts at SunTrust Banks cut their Q2 2017 EPS estimates for Flamel Technologies in a note issued to investors on Wednesday. SunTrust Banks analyst J. Boris now anticipates that the company will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.07. SunTrust Banks also issued estimates for Flamel Technologies’ Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at $0.01 EPS and FY2017 earnings at $0.30 EPS.
Separately, Zacks Investment Research downgraded Flamel Technologies from a “buy” rating to a “hold” rating in a report on Friday, July 21st.
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Shares of Flamel Technologies (AVDL) opened at 9.26 on Monday. The stock has a 50 day moving average price of $10.49 and a 200-day moving average price of $10.03. The company’s market capitalization is $383.14 million. Flamel Technologies has a 52 week low of $8.75 and a 52 week high of $15.45.
Flamel Technologies (NASDAQ:AVDL) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.19. The company had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $46.01 million. Flamel Technologies had a positive return on equity of 14.49% and a negative net margin of 7.28%. The firm’s revenue for the quarter was up 45.0% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in AVDL. Columbus Circle Investors increased its stake in 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 in the last quarter. Alps Advisors Inc. purchased a new stake in Flamel Technologies during the second quarter valued at approximately $411,000. Trexquant Investment LP increased its stake in 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 in the last quarter. Sei Investments Co. increased its stake in 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in 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 in the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.
In other news, Director Craig R. Stapleton acquired 31,013 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was purchased 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 directly owns 507,678 shares in the company, valued at approximately $5,000,628.30. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $10.68, for a total value of $2,787,480.00. The disclosure for this sale can be found here. Insiders own 5.07% 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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