Flamel Technologies S.A. (NASDAQ:AVDL) Director Craig R. Stapleton acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $9.52 per share, with a total value of $190,400.00. Following the completion of the acquisition, the director now owns 507,678 shares in the company, valued at $4,833,094.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Flamel Technologies S.A. (AVDL) opened at 9.42 on Friday. The stock has a market capitalization of $377.59 million, a price-to-earnings ratio of 9.95 and a beta of 1.39. Flamel Technologies S.A. has a 52 week low of $8.14 and a 52 week high of $14.15. The firm’s 50-day moving average is $9.03 and its 200-day moving average is $9.82.
Flamel Technologies (NASDAQ:AVDL) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.14. The business had revenue of $46.30 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. Analysts forecast that Flamel Technologies S.A. will post $1.16 earnings per share for the current fiscal year.
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AVDL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, July 17th. Ladenburg Thalmann Financial Services boosted their price objective on shares of Flamel Technologies from $27.00 to $30.00 in a report on Thursday, September 7th. Roth Capital set a $15.00 price objective on shares of Flamel Technologies and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, Langenberg & Company restated a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Flamel Technologies in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Flamel Technologies has a consensus rating of “Buy” and an average target price of $19.83.
Several hedge funds and other institutional investors have recently bought and sold shares of AVDL. PNC Financial Services Group Inc. raised its holdings in shares of Flamel Technologies by 2,484.0% in the second quarter. PNC Financial Services Group Inc. now owns 10,956 shares of the company’s stock worth $121,000 after buying an additional 10,532 shares during the last quarter. US Bancorp DE purchased a new position in shares of Flamel Technologies in the first quarter worth $121,000. Sei Investments Co. raised its holdings in shares of Flamel Technologies by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock worth $140,000 after buying an additional 2,900 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Flamel Technologies in the second quarter worth $181,000. Finally, State of Tennessee Treasury Department purchased a new position in shares of Flamel Technologies in the second quarter worth $194,000. 69.09% of the stock is owned by institutional investors and hedge funds.
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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