Heartland Advisors Inc. Raises Position in Flamel Technologies SA (FLML)
Heartland Advisors Inc. boosted its stake in shares of Flamel Technologies SA (NASDAQ:FLML) by 10.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,000 shares of the company’s stock after buying an additional 38,955 shares during the period. Heartland Advisors Inc. owned about 0.97% of Flamel Technologies SA worth $4,960,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new stake in Flamel Technologies SA during the second quarter valued at $210,000. Quantitative Systematic Strategies LLC purchased a new stake in Flamel Technologies SA during the second quarter valued at $261,000. Smith Asset Management Group LP purchased a new stake in Flamel Technologies SA during the second quarter valued at $320,000. ProShare Advisors LLC increased its stake in Flamel Technologies SA by 0.6% in the second quarter. ProShare Advisors LLC now owns 29,957 shares of the company’s stock valued at $322,000 after buying an additional 171 shares during the last quarter. Finally, State Street Corp increased its stake in Flamel Technologies SA by 2.6% in the second quarter. State Street Corp now owns 30,682 shares of the company’s stock valued at $330,000 after buying an additional 787 shares during the last quarter. 70.36% of the stock is owned by institutional investors and hedge funds.
Flamel Technologies SA (NASDAQ:FLML) traded down 0.92% during trading on Monday, reaching $10.80. The company’s stock had a trading volume of 15,448 shares. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00. Flamel Technologies SA has a 52 week low of $7.56 and a 52 week high of $15.54.
Flamel Technologies SA (NASDAQ:FLML) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.13. Flamel Technologies SA had a net margin of 18.25% and a return on equity of 19.35%. The business had revenue of $32.10 million for the quarter, compared to analysts’ expectations of $30.70 million. During the same quarter last year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 32.1% compared to the same quarter last year. On average, equities analysts forecast that Flamel Technologies SA will post ($1.41) EPS for the current year.
Several brokerages recently issued reports on FLML. Zacks Investment Research upgraded Flamel Technologies SA from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, October 18th. JMP Securities restated an “outperform” rating and issued a $16.00 price target on shares of Flamel Technologies SA in a research report on Wednesday, September 28th. Finally, Leerink Swann restated an “outperform” rating and issued a $16.00 price target on shares of Flamel Technologies SA in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Flamel Technologies SA presently has a consensus rating of “Buy” and an average price target of $17.70.
In related news, Director Craig R. Stapleton purchased 10,000 shares of Flamel Technologies SA stock in a transaction dated Thursday, September 1st. The shares were acquired at an average price of $13.52 per share, with a total value of $135,200.00. Following the completion of the transaction, the director now owns 519,678 shares of the company’s stock, valued at approximately $7,026,046.56. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael S. Anderson purchased 2,000 shares of Flamel Technologies SA stock in a transaction dated Friday, September 2nd. The shares were bought at an average cost of $14.12 per share, for a total transaction of $28,240.00. The disclosure for this purchase can be found here. Insiders own 4.45% of the company’s stock.
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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