Flamel Technologies SA (FLML) Shares Up 4.6%
Shares of Flamel Technologies SA (NASDAQ:FLML) shot up 4.6% on Monday . The stock traded as high as $12.96 and last traded at $12.90, with a volume of 93,933 shares changing hands. The stock had previously closed at $12.33.
A number of brokerages recently weighed in on FLML. Zacks Investment Research cut Flamel Technologies SA from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Leerink Swann reissued a “buy” rating and set a $16.00 price objective on shares of Flamel Technologies SA in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.63.
The stock has a market cap of $533.66 million and a P/E ratio of 31.33. The firm’s 50-day moving average price is $11.74 and its 200 day moving average price is $10.64.
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 Thomson Reuters’ consensus estimate of $0.06 by $0.08. During the same period in the prior year, the firm earned $0.34 earnings per share. The company earned $38.90 million during the quarter, compared to the consensus estimate of $32.80 million. Flamel Technologies SA’s revenue for the quarter was down 20.0% compared to the same quarter last year. Equities analysts anticipate that Flamel Technologies SA will post ($0.03) earnings per share for the current year.
In related news, CEO Michael S. Anderson purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,186,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig R. Stapleton purchased 27,228 shares of the business’s stock in a transaction on Monday, May 16th. The shares were bought at an average cost of $9.21 per share, with a total value of $250,769.88. Following the acquisition, the director now directly owns 507,263 shares of the company’s stock, valued at approximately $4,671,892.23. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Flamel Technologies SA stock. Morgan Stanley increased its stake in shares of Flamel Technologies SA (NASDAQ:FLML) by 131.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,463 shares of the company’s stock after buying an additional 408,531 shares during the period. Morgan Stanley owned about 1.78% of Flamel Technologies SA worth $8,785,000 as of its most recent SEC filing.
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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