Brokerages Anticipate Flamel Technologies S.A. (AVDL) Will Post Quarterly Sales of $36.80 Million
Wall Street analysts forecast that Flamel Technologies S.A. (NASDAQ:AVDL) will report $36.80 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Flamel Technologies’ earnings, with the highest sales estimate coming in at $38.67 million and the lowest estimate coming in at $34.93 million. Flamel Technologies reported sales of $32.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 14.7%. The business is expected 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 year, analysts forecast that the business will post sales of $136.46 million per share, with estimates ranging from $122.75 million to $150.18 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Flamel Technologies.
Flamel Technologies (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.05 by $0.14. The business had revenue of $46.30 million during the quarter, compared to analyst estimates of $45.17 million. Flamel Technologies had a net margin of 21.13% and a return on equity of 29.84%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Flamel Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 12th. Roth Capital set a $15.00 target price on Flamel Technologies and gave the company a “buy” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.75.
In related news, Director Guillaume Cerutti sold 26,560 shares of Flamel Technologies stock in a transaction dated Thursday, June 15th. The stock was 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 directly owns 23,440 shares in the company, valued at $245,182.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of Flamel Technologies stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $10.68, for a total value 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 have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new stake in Flamel Technologies in the second quarter worth about $24,100,000. Acadian Asset Management LLC increased its position 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 during the period. Russell Investments Group Ltd. acquired a new stake in Flamel Technologies in the first quarter worth about $3,654,000. OxFORD Asset Management LLP increased its position 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 during the period. Finally, GSA Capital Partners LLP increased its position 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 during the period. Hedge funds and other institutional investors own 69.09% of the company’s stock.
Flamel Technologies (NASDAQ AVDL) traded up 6.04% during trading on Monday, hitting $8.96. 211,009 shares of the stock traded hands. The stock has a market cap of $359.15 million, a PE ratio of 9.46 and a beta of 1.39. The company has a 50-day moving average price of $9.23 and a 200 day moving average price of $9.88. Flamel Technologies has a one year low of $8.14 and a one year high of $14.70.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Flamel Technologies S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flamel Technologies S.A. and related stocks with our FREE daily email newsletter.