Flamel Technologies S.A. (AVDL) Earns “Buy” Rating from Langenberg & Company
Flamel Technologies S.A. (NASDAQ:AVDL)‘s stock had its “buy” rating restated by analysts at Langenberg & Company in a research note issued on Thursday. They currently have a $30.00 target price on the stock, up from their previous target price of $27.00. Langenberg & Company’s price target would indicate a potential upside of 234.82% from the stock’s current price.
AVDL has been the topic of a number of other reports. Zacks Investment Research downgraded Flamel Technologies from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. Roth Capital set a $15.00 price target on Flamel Technologies and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Ladenburg Thalmann Financial Services upped their price target on Flamel Technologies from $27.00 to $30.00 in a research note on Thursday. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Flamel Technologies presently has a consensus rating of “Buy” and a consensus price target of $19.83.
Flamel Technologies (AVDL) traded up 6.04% on Thursday, hitting $8.96. The company had a trading volume of 211,009 shares. Flamel Technologies has a one year low of $8.14 and a one year high of $14.70. The stock’s 50-day moving average price is $9.23 and its 200 day moving average price is $9.88. The company has a market capitalization of $359.15 million, a P/E ratio of 9.46 and a beta of 1.39.
Flamel Technologies (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $46.30 million for the quarter, compared to the consensus estimate of $45.17 million. Flamel Technologies had a return on equity of 29.84% and a net margin of 21.13%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts expect that Flamel Technologies will post $1.11 EPS for the current fiscal year.
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In related news, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $10.68, for a total transaction of $2,787,480.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Guillaume Cerutti sold 26,560 shares of the company’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 value of $277,817.60. Following the transaction, the director now directly owns 23,440 shares in the company, valued at $245,182.40. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its holdings in Flamel Technologies by 37.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 57,690 shares of the company’s stock worth $636,000 after purchasing an additional 15,657 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Flamel Technologies during the 2nd quarter worth approximately $181,000. State Street Corp increased its holdings in Flamel Technologies by 1.7% during the 2nd quarter. State Street Corp now owns 31,782 shares of the company’s stock worth $351,000 after purchasing an additional 523 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Flamel Technologies during the 2nd quarter worth approximately $24,100,000. Finally, Stifel Financial Corp increased its holdings in Flamel Technologies by 4.3% during the 2nd quarter. Stifel Financial Corp now owns 60,500 shares of the company’s stock worth $667,000 after purchasing an additional 2,500 shares in the last quarter. 69.09% of the stock is owned by hedge funds and other institutional investors.
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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