Flamel Technologies S.A. (AVDL) to Post Q3 2017 Earnings of ($0.02) Per Share, SunTrust Banks Forecasts
Flamel Technologies S.A. (NASDAQ:AVDL) – Stock analysts at SunTrust Banks boosted their Q3 2017 EPS estimates for shares of Flamel Technologies in a report released on Thursday. SunTrust Banks analyst J. Boris now anticipates that the company will post earnings of ($0.02) per share for the quarter, up from their previous estimate of ($0.03). SunTrust Banks also issued estimates for Flamel Technologies’ Q4 2017 earnings at ($0.15) EPS, FY2017 earnings at $0.28 EPS, FY2018 earnings at $0.42 EPS, FY2019 earnings at $0.75 EPS, FY2020 earnings at $1.59 EPS and FY2021 earnings at $2.69 EPS.
Several other analysts have also weighed in on AVDL. Roth Capital set a $15.00 price objective on shares of Flamel Technologies and gave the company a “buy” rating in a research note on Wednesday, August 9th. Langenberg & Company reiterated a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Flamel Technologies in a research note on Thursday. Zacks Investment Research lowered shares of Flamel Technologies from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on shares of Flamel Technologies from $27.00 to $30.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $19.83.
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Flamel Technologies (NASDAQ AVDL) opened at 9.00 on Monday. The stock has a 50 day moving average of $9.15 and a 200 day moving average of $9.86. The firm has a market cap of $360.76 million, a PE ratio of 9.50 and a beta of 1.39. Flamel Technologies has a 12-month low of $8.14 and a 12-month high of $14.38.
Flamel Technologies (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. The company had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $45.17 million. Flamel Technologies had a net margin of 21.13% and a return on equity of 29.84%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year.
In related news, Director Guillaume Cerutti sold 26,560 shares of Flamel Technologies stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $10.46, for a total value of $277,817.60. Following the completion of the sale, the director now owns 23,440 shares of the company’s stock, valued at approximately $245,182.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of Flamel Technologies stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $10.68, for a total transaction of $2,787,480.00. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AVDL. PNC Financial Services Group Inc. grew its position in Flamel Technologies by 2,484.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,956 shares of the company’s stock valued at $121,000 after purchasing an additional 10,532 shares during the period. US Bancorp DE purchased a new position in Flamel Technologies during the 1st quarter worth $121,000. Sei Investments Co. boosted its holdings in Flamel Technologies by 29.5% during the 2nd quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock worth $140,000 after acquiring an additional 2,900 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Flamel Technologies during the 2nd quarter worth $181,000. Finally, State of Tennessee Treasury Department purchased a new position in Flamel Technologies during the 2nd quarter worth $194,000. 69.09% of the stock is owned by institutional investors and hedge funds.
About Flamel Technologies
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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