Flamel Technologies S.A. (NASDAQ:AVDL) Announces Earnings Results
Flamel Technologies S.A. (NASDAQ:AVDL) issued its quarterly earnings data on Tuesday. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14, MarketWatch Earnings reports. Flamel Technologies had a positive return on equity of 14.49% and a negative net margin of 7.28%. The firm had revenue of $46.30 million during the quarter, compared to analyst estimates of $45.17 million. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. Flamel Technologies updated its FY17 guidance to $0.30-0.45 EPS.
Shares of Flamel Technologies (NASDAQ:AVDL) traded down 2.6198% during midday trading on Wednesday, reaching $8.5792. The company’s stock had a trading volume of 69,004 shares. Flamel Technologies has a 12 month low of $8.40 and a 12 month high of $15.45. The stock’s 50-day moving average is $10.38 and its 200 day moving average is $10.02. The stock’s market capitalization is $354.97 million.
In related news, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $10.68, for a total transaction of $2,787,480.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Guillaume Cerutti sold 26,560 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $10.46, for a total value of $277,817.60. Following the sale, the director now owns 23,440 shares in the company, valued at $245,182.40. The disclosure for this sale can be found here. 5.07% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research lowered Flamel Technologies from a “hold” rating to a “sell” rating in a research note on Monday.
About Flamel Technologies
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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