Flamel Technologies SA (FLML) Sees Unusually-High Trading Volume
Flamel Technologies SA (NASDAQ:FLML) saw unusually-strong trading volume on Tuesday . Approximately 166,008 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 213,103 shares.The stock last traded at $12.60 and had previously closed at $12.47.
A number of equities research analysts recently weighed in on FLML shares. Leerink Swann reissued a “buy” rating and issued a $16.00 price target on shares of Flamel Technologies SA in a research report on Tuesday, May 10th. Zacks Investment Research cut shares of Flamel Technologies SA from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $18.63.
The company’s 50-day moving average price is $10.69 and its 200-day moving average price is $10.44. The firm has a market cap of $514.69 million and a P/E ratio of 23.64.
Flamel Technologies SA (NASDAQ:FLML) last released its quarterly earnings data on Monday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.10. The firm had revenue of $36.20 million for the quarter, compared to the consensus estimate of $34 million. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Flamel Technologies SA will post ($0.03) EPS for the current year.
In other news, Director Craig R. Stapleton purchased 27,228 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average cost of $9.21 per share, with a total value of $250,769.88. Following the acquisition, the director now owns 507,263 shares in the company, valued at $4,671,892.23. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael S. Anderson purchased 5,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $8.84 per share, with a total value of $44,200.00. Following the completion of the acquisition, the chief executive officer now owns 134,250 shares in the company, valued at approximately $1,186,770. The disclosure for this purchase can be found here.
Other large investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in Flamel Technologies SA during the fourth quarter worth $2,129,000. Turner Investments L.P. raised its stake in Flamel Technologies SA by 77.3% in the fourth quarter. Turner Investments L.P. now owns 239,308 shares of the company’s stock worth $2,922,000 after buying an additional 104,340 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Flamel Technologies SA during the fourth quarter worth $3,053,000. Tekla Capital Management LLC purchased a new stake in Flamel Technologies SA during the fourth quarter worth $5,791,000. Finally, Russell Frank Co raised its stake in Flamel Technologies SA by 15.5% in the fourth quarter. Russell Frank Co now owns 422,247 shares of the company’s stock worth $6,118,000 after buying an additional 56,752 shares during the last quarter.
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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