California Public Employees Retirement System Sells 56,500 Shares of Flamel Technologies SA (FLML)
California Public Employees Retirement System lowered its stake in Flamel Technologies SA (NASDAQ:FLML) by 36.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,100 shares of the company’s stock after selling 56,500 shares during the period. California Public Employees Retirement System owned 0.24% of Flamel Technologies SA worth $1,064,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FLML. Quantitative Systematic Strategies LLC acquired a new position in Flamel Technologies SA during the second quarter valued at $261,000. Smith Asset Management Group LP acquired a new position in Flamel Technologies SA during the second quarter valued at $320,000. State of New Jersey Common Pension Fund D raised its position in Flamel Technologies SA by 62.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 32,915 shares of the company’s stock valued at $354,000 after buying an additional 12,695 shares during the period. Columbus Circle Investors raised its position in Flamel Technologies SA by 106.9% in the second quarter. Columbus Circle Investors now owns 62,813 shares of the company’s stock valued at $675,000 after buying an additional 32,458 shares during the period. Finally, Opus Point Partners Management LLC raised its position in Flamel Technologies SA by 21.7% in the first quarter. Opus Point Partners Management LLC now owns 69,109 shares of the company’s stock valued at $763,000 after buying an additional 12,321 shares during the period. 70.35% of the stock is owned by institutional investors and hedge funds.
Shares of Flamel Technologies SA (NASDAQ:FLML) traded down 3.00% during mid-day trading on Monday, hitting $12.27. The stock had a trading volume of 18,197 shares. The firm has a market capitalization of $506.03 million, a price-to-earnings ratio of 29.71 and a beta of 1.42. Flamel Technologies SA has a 1-year low of $7.56 and a 1-year high of $19.78. The stock’s 50-day moving average is $13.35 and its 200 day moving average is $11.90.
Flamel Technologies SA (NASDAQ:FLML) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.06 by $0.08. The firm had revenue of $38.90 million for the quarter, compared to the consensus estimate of $32.80 million. Flamel Technologies SA had a net margin of 12.11% and a return on equity of 25.19%. The business’s revenue was down 20.0% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. Equities research analysts predict that Flamel Technologies SA will post ($1.08) EPS for the current fiscal year.
FLML has been the subject of several research analyst reports. Zacks Investment Research raised Flamel Technologies SA from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Leerink Swann restated an “outperform” rating and issued a $16.00 target price on shares of Flamel Technologies SA in a research note on Tuesday, September 27th. Finally, JMP Securities restated an “outperform” rating and issued a $16.00 target price on shares of Flamel Technologies SA in a research note on Wednesday, September 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.63.
In other news, CEO Michael S. Anderson acquired 5,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was purchased at an average cost of $14.30 per share, with a total value of $71,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig R. Stapleton acquired 20,000 shares of the stock in a transaction dated Friday, August 26th. The shares were purchased at an average cost of $13.76 per share, with a total value of $275,200.00. Following the completion of the purchase, the director now owns 509,678 shares of the company’s stock, valued at approximately $7,013,169.28. The disclosure for this purchase can be found here. Insiders own 4.45% of the company’s stock.
About Flamel Technologies SA
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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