Flamel Technologies SA (FLML) Sees Unusually-High Trading Volume
Shares of Flamel Technologies SA (NASDAQ:FLML) saw an uptick in trading volume on Tuesday . 151,412 shares changed hands during trading, a decline of 25% from the previous session’s volume of 200,758 shares.The stock last traded at $10.86 and had previously closed at $11.02.
Several research firms recently issued reports on FLML. Leerink Swann reiterated an “outperform” rating and set a $16.00 target price on shares of Flamel Technologies SA in a report on Wednesday, March 23rd. TheStreet upgraded Flamel Technologies SA from a “sell” rating to a “hold” rating in a report on Thursday, March 10th. Zacks Investment Research upgraded Flamel Technologies SA from a “sell” rating to a “hold” rating in a report on Friday, March 11th. Finally, JMP Securities dropped their price objective on Flamel Technologies SA from $20.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $18.63.
The stock’s 50 day moving average is $10.21 and its 200-day moving average is $10.56. The firm has a market cap of $459.84 million and a PE ratio of 21.12.
Flamel Technologies SA (NASDAQ:FLML) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.10. The business earned $36.20 million during the quarter, compared to analysts’ expectations of $34 million. Flamel Technologies SA’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that Flamel Technologies SA will post ($0.03) EPS for the current fiscal year.
In other news, Director Craig R. Stapleton bought 27,228 shares of Flamel Technologies SA stock in a transaction dated Monday, May 16th. The stock was bought at an average cost of $9.21 per share, for a total transaction of $250,769.88. Following the purchase, the director now directly owns 507,263 shares in the company, valued at approximately $4,671,892.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Anderson bought 5,000 shares of Flamel Technologies SA stock in a transaction dated Thursday, May 12th. The stock was purchased at an average price of $8.84 per share, with a total value of $44,200.00. Following the completion of the purchase, the chief executive officer now owns 134,250 shares in the company, valued at $1,186,770. The disclosure for this purchase can be found here.
Several hedge funds have recently modified their holdings of FLML. Sei Investments Co. purchased a new stake in shares of Flamel Technologies SA during the fourth quarter valued at approximately $2,129,000. Turner Investments L.P. increased its stake in shares of Flamel Technologies SA by 77.3% in the fourth quarter. Turner Investments L.P. now owns 239,308 shares of the company’s stock valued at $2,922,000 after buying an additional 104,340 shares in the last quarter. Tekla Capital Management LLC purchased a new stake in shares of Flamel Technologies SA during the fourth quarter valued at approximately $5,791,000. Heartland Advisors Inc. purchased a new stake in shares of Flamel Technologies SA during the fourth quarter valued at approximately $3,053,000. Finally, Russell Frank Co increased its stake in shares of Flamel Technologies SA by 15.5% in the fourth quarter. Russell Frank Co now owns 422,247 shares of the company’s stock valued at $6,118,000 after buying an additional 56,752 shares in 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.