$36.80 Million in Sales Expected for Flamel Technologies S.A. (AVDL) This Quarter
Wall Street analysts forecast that Flamel Technologies S.A. (NASDAQ:AVDL) will announce sales of $36.80 million for the current quarter, according to Zacks. Two analysts have provided estimates for Flamel Technologies’ earnings, with estimates ranging from $34.93 million to $38.67 million. Flamel Technologies posted sales of $32.09 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Flamel Technologies will report full-year sales of $36.80 million for the current fiscal year, with estimates ranging from $165.37 million to $173.63 million. For the next financial year, analysts expect that the firm will post sales of $146.32 million per share, with estimates ranging from $127.50 million to $165.13 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Flamel Technologies.
Flamel Technologies (NASDAQ:AVDL) last issued its earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. Flamel Technologies had a return on equity of 29.84% and a net margin of 21.13%. The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $45.17 million. The business’s revenue was up 19.0% compared to the same quarter last year.
Several equities analysts have recently commented on AVDL shares. Zacks Investment Research cut shares of Flamel Technologies from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Langenberg & Company restated a “buy” rating and set a $30.00 price target (up from $27.00) on shares of Flamel Technologies in a report on Thursday, September 7th. Ladenburg Thalmann Financial Services boosted their price target on shares of Flamel Technologies from $27.00 to $30.00 in a report on Thursday, September 7th. Finally, Roth Capital set a $15.00 price target on shares of Flamel Technologies and gave the company a “buy” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.83.
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Flamel Technologies (NASDAQ:AVDL) opened at 9.61 on Friday. The company has a 50-day moving average price of $9.01 and a 200-day moving average price of $9.80. Flamel Technologies has a one year low of $8.14 and a one year high of $14.11. The firm has a market cap of $385.21 million, a PE ratio of 10.15 and a beta of 1.39.
In other Flamel Technologies news, CEO Michael S. Anderson acquired 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $9.80 per share, for a total transaction of $39,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Phillandas T. Thompson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $9.36 per share, with a total value of $46,800.00. The disclosure for this purchase can be found here. Insiders purchased 41,700 shares of company stock valued at $394,848 over the last quarter. 5.07% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new stake in Flamel Technologies in the second quarter worth $24,100,000. Acadian Asset Management LLC boosted its holdings in Flamel Technologies by 9.7% in the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock worth $18,444,000 after purchasing an additional 147,907 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Flamel Technologies in the first quarter worth $3,654,000. OxFORD Asset Management LLP boosted its holdings in Flamel Technologies by 62.7% in the second quarter. OxFORD Asset Management LLP now owns 334,881 shares of the company’s stock worth $3,694,000 after purchasing an additional 129,044 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Flamel Technologies by 9.9% in the second quarter. GSA Capital Partners LLP now owns 200,213 shares of the company’s stock worth $2,208,000 after purchasing an additional 18,056 shares in the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.
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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