Flamel Technologies SA (NASDAQ:FLML) Receives Average Recommendation of “Buy” from Brokerages
Flamel Technologies SA (NASDAQ:FLML) has been given an average recommendation of “Buy” by the seven brokerages that are currently covering the firm. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $18.63.
FLML has been the topic of several research analyst reports. Zacks Investment Research upgraded Flamel Technologies SA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. JMP Securities reiterated an “outperform” rating and set a $16.00 target price on shares of Flamel Technologies SA in a research note on Wednesday. Finally, Leerink Swann reiterated an “outperform” rating and set a $16.00 target price on shares of Flamel Technologies SA in a research note on Tuesday.
In related news, Director Craig R. Stapleton acquired 20,000 shares of the stock in a transaction on Friday, August 26th. The shares were purchased at an average price of $13.76 per share, for a total transaction of $275,200.00. Following the purchase, the director now directly owns 509,678 shares in the company, valued at $7,013,169.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael S. Anderson acquired 5,000 shares of the stock in a transaction on Monday, August 22nd. The shares were bought at an average price of $14.30 per share, for a total transaction of $71,500.00. The disclosure for this purchase can be found here. Company insiders own 4.45% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in Flamel Technologies SA during the second quarter worth approximately $210,000. Quantitative Systematic Strategies LLC bought a new position in Flamel Technologies SA during the second quarter worth approximately $261,000. Smith Asset Management Group LP bought a new position in Flamel Technologies SA during the second quarter worth approximately $320,000. ProShare Advisors LLC raised its position in Flamel Technologies SA by 0.6% in the second quarter. ProShare Advisors LLC now owns 29,957 shares of the company’s stock worth $322,000 after buying an additional 171 shares during the period. Finally, State Street Corp raised its position in Flamel Technologies SA by 2.6% in the second quarter. State Street Corp now owns 30,682 shares of the company’s stock worth $330,000 after buying an additional 787 shares during the period. Hedge funds and other institutional investors own 70.33% of the company’s stock.
Flamel Technologies SA (NASDAQ:FLML) traded down 1.54% during midday trading on Wednesday, hitting $12.80. The stock had a trading volume of 69,073 shares. The firm has a market cap of $527.88 million, a P/E ratio of 30.99 and a beta of 1.42. Flamel Technologies SA has a 52 week low of $7.56 and a 52 week high of $19.78. The stock has a 50-day moving average of $13.75 and a 200-day moving average of $11.75.
Flamel Technologies SA (NASDAQ:FLML) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.08. The business earned $38.90 million during the quarter, compared to the consensus estimate of $32.80 million. Flamel Technologies SA had a net margin of 12.11% and a return on equity of 25.19%. Flamel Technologies SA’s quarterly revenue was down 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Analysts forecast that Flamel Technologies SA will post ($1.08) EPS for the current fiscal year.
About Flamel Technologies SA
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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