Flamel Technologies SA (FLML) Shares Up 3.7%
Flamel Technologies SA (NASDAQ:FLML)’s share price shot up 3.7% during mid-day trading on Thursday . The stock traded as high as $13.95 and last traded at $13.87, with a volume of 122,945 shares changing hands. The stock had previously closed at $13.37.
Several brokerages have issued reports on FLML. Zacks Investment Research raised shares of Flamel Technologies SA from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Leerink Swann reissued a “buy” rating and issued a $16.00 price objective on shares of Flamel Technologies SA in a research note 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 currently has an average rating of “Buy” and a consensus price target of $18.63.
The firm has a 50-day moving average price of $13.20 and a 200-day moving average price of $11.14. The company has a market cap of $582.32 million and a price-to-earnings ratio of 34.19.
Flamel Technologies SA (NASDAQ:FLML) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.08. The firm had revenue of $38.90 million for the quarter, compared to analyst estimates of $32.80 million. The company’s quarterly revenue was down 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities analysts predict that Flamel Technologies SA will post ($1.11) earnings per share for the current year.
In other news, Director Craig R. Stapleton acquired 20,000 shares of Flamel Technologies SA stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average cost of $13.76 per share, for a total transaction of $275,200.00. Following the completion of the purchase, the director now directly owns 509,678 shares of the company’s stock, valued at approximately $7,013,169.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael S. Anderson acquired 5,000 shares of Flamel Technologies SA stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average price of $14.30 per share, for a total transaction of $71,500.00. The disclosure for this purchase can be found here.
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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