Zacks Investment Research cut shares of Flamel Technologies S.A. (NASDAQ:AVDL) from a hold rating to a sell rating in a research report report published on Monday morning.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

Flamel Technologies (NASDAQ:AVDL) traded down 2.49% during mid-day trading on Monday, hitting $9.00. 556,386 shares of the stock were exchanged. The company has a 50-day moving average price of $10.49 and a 200-day moving average price of $10.03. Flamel Technologies has a one year low of $8.75 and a one year high of $15.45. The company’s market cap is $372.38 million.

Flamel Technologies (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.16. Flamel Technologies had a negative net margin of 7.28% and a positive return on equity of 14.49%. The firm had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $45.17 million. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Analysts forecast that Flamel Technologies will post $0.54 earnings per share for the current fiscal year.

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In other Flamel Technologies news, Director Craig R. Stapleton bought 31,013 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was purchased at an average cost of $9.85 per share, for a total transaction of $305,478.05. Following the acquisition, the director now owns 507,678 shares of the company’s stock, valued at approximately $5,000,628.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Guillaume Cerutti sold 26,560 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $10.46, for a total transaction of $277,817.60. Following the transaction, the director now owns 23,440 shares of the company’s stock, valued at $245,182.40. The disclosure for this sale can be found here. 5.07% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Columbus Circle Investors increased its position in Flamel Technologies by 16.7% in the second quarter. Columbus Circle Investors now owns 51,137 shares of the company’s stock valued at $564,000 after buying an additional 7,315 shares during the period. Alps Advisors Inc. acquired a new position in Flamel Technologies during the second quarter valued at $411,000. Trexquant Investment LP increased its position in Flamel Technologies by 30.7% in the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock valued at $336,000 after buying an additional 7,169 shares during the period. Sei Investments Co. increased its position in Flamel Technologies by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after buying an additional 2,900 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in Flamel Technologies by 27.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 42,090 shares of the company’s stock valued at $464,000 after buying an additional 9,175 shares during the period. Hedge funds and other institutional investors own 71.03% of the company’s stock.

Flamel Technologies Company Profile

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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