Flamel Technologies S.A. (AVDL) Releases Quarterly Earnings Results, Beats Expectations By $0.14 EPS
Flamel Technologies S.A. (NASDAQ:AVDL) released its quarterly earnings results on Tuesday. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.05 by $0.14, MarketWatch Earnings reports. The business had revenue of $46.30 million for the quarter, compared to analyst estimates of $45.17 million. Flamel Technologies had a negative net margin of 7.28% and a positive return on equity of 14.49%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. Flamel Technologies updated its FY17 guidance to $0.30-0.45 EPS.
Shares of Flamel Technologies (AVDL) opened at 8.81 on Wednesday. The stock has a 50 day moving average of $10.38 and a 200 day moving average of $10.02. The firm’s market capitalization is $364.52 million. Flamel Technologies has a 52-week low of $8.75 and a 52-week high of $15.45.
Separately, Zacks Investment Research upgraded shares of Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Monday, July 17th.
In other Flamel Technologies news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Guillaume Cerutti sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $10.46, for a total transaction of $277,817.60. Following the completion of the sale, the director now directly owns 23,440 shares of the company’s stock, valued at $245,182.40. 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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