Langenberg & Company Reiterates “Buy” Rating for Flamel Technologies S.A. (AVDL)
Flamel Technologies S.A. (NASDAQ:AVDL)‘s stock had its “buy” rating restated by research analysts at Langenberg & Company in a research note issued on Thursday. They currently have a $30.00 price objective on the stock, up from their prior price objective of $27.00. Langenberg & Company’s target price would indicate a potential upside of 233.33% from the company’s previous close.
Other equities analysts have also issued reports about the company. Ladenburg Thalmann Financial Services increased their price target on Flamel Technologies from $27.00 to $30.00 in a research note on Thursday. Roth Capital set a $15.00 price target on Flamel Technologies and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Flamel Technologies presently has an average rating of “Buy” and a consensus target price of $19.83.
Flamel Technologies (AVDL) opened at 9.00 on Thursday. The firm has a market capitalization of $360.76 million, a PE ratio of 9.50 and a beta of 1.39. Flamel Technologies has a one year low of $8.14 and a one year high of $14.15. The company’s 50-day moving average price is $9.15 and its 200 day moving average price is $9.86.
Flamel Technologies (NASDAQ:AVDL) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $46.30 million during the quarter, compared to analyst estimates of $45.17 million. Flamel Technologies had a return on equity of 29.84% and a net margin of 21.13%. The firm’s revenue was up 19.0% on a year-over-year basis. On average, analysts forecast that Flamel Technologies will post $1.11 earnings per share for the current year.
In other Flamel Technologies news, Director Guillaume Cerutti sold 26,560 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $10.46, for a total transaction of $277,817.60. Following the completion of the transaction, the director now directly owns 23,440 shares of the company’s stock, valued at approximately $245,182.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the stock in a transaction on Friday, June 23rd. The shares were 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.
Several large investors have recently made changes to their positions in AVDL. PNC Financial Services Group Inc. lifted its position in shares of Flamel Technologies by 2,484.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,956 shares of the company’s stock valued at $121,000 after acquiring an additional 10,532 shares during the last quarter. US Bancorp DE acquired a new stake in shares of Flamel Technologies during the 1st quarter valued at $121,000. Sei Investments Co. lifted its position in shares of Flamel Technologies by 29.5% during the 2nd quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after acquiring an additional 2,900 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flamel Technologies during the 2nd quarter valued at $181,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Flamel Technologies during the 2nd quarter valued at $194,000. Institutional investors own 69.09% of the company’s stock.
Flamel Technologies Company Profile
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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