Greg J. Divis Acquires 10,600 Shares of Flamel Technologies S.A. (AVDL) Stock
Flamel Technologies S.A. (NASDAQ:AVDL) insider Greg J. Divis acquired 10,600 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of $9.32 per share, for a total transaction of $98,792.00. Following the purchase, the insider now directly owns 10,600 shares in the company, valued at approximately $98,792. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Flamel Technologies S.A. (AVDL) traded up 0.22% during mid-day trading on Thursday, reaching $9.22. The company had a trading volume of 127,033 shares. Flamel Technologies S.A. has a one year low of $8.14 and a one year high of $14.15. The stock has a 50 day moving average of $9.04 and a 200-day moving average of $9.83. The firm has a market capitalization of $369.57 million, a price-to-earnings ratio of 9.74 and a beta of 1.39.
Flamel Technologies (NASDAQ:AVDL) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $46.30 million for 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. Equities analysts predict that Flamel Technologies S.A. will post $1.16 EPS for the current year.
AVDL has been the topic of several research analyst reports. Zacks Investment Research raised Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, July 17th. Roth Capital set a $15.00 price objective on Flamel Technologies and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Ladenburg Thalmann Financial Services raised their price objective on Flamel Technologies from $27.00 to $30.00 in a research note on Thursday, September 7th. Finally, Langenberg & Company reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of Flamel Technologies in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Flamel Technologies presently has an average rating of “Buy” and an average target price of $19.83.
Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in Flamel Technologies during the first quarter valued at $3,654,000. US Bancorp DE bought a new stake in Flamel Technologies during the first quarter valued at $121,000. Acadian Asset Management LLC boosted its position in Flamel Technologies by 9.7% during the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock valued at $18,444,000 after acquiring an additional 147,907 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Flamel Technologies by 27.9% during 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 acquiring an additional 9,175 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in Flamel Technologies by 30.7% during the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock valued at $336,000 after acquiring an additional 7,169 shares during the last quarter. 69.09% of the stock is currently 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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