Flamel Technologies S.A. (NASDAQ:AVDL) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.48 and last traded at $8.42, with a volume of 148,202 shares changing hands. The stock had previously closed at $8.81.

Separately, Zacks Investment Research raised shares of Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, July 17th.

The company has a 50-day moving average of $10.38 and a 200 day moving average of $10.02. The stock’s market cap is $344.25 million.

Flamel Technologies (NASDAQ:AVDL) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. Flamel Technologies had a negative net margin of 7.28% and a positive return on equity of 14.49%. The business had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $45.17 million. The firm’s revenue was up 19.0% compared to the same quarter last year. Analysts expect that Flamel Technologies S.A. will post $0.54 earnings per share for the current fiscal year.

In other Flamel Technologies news, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $10.68, for a total transaction of $2,787,480.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig R. Stapleton purchased 31,013 shares of Flamel Technologies stock in a transaction on Monday, May 22nd. The shares were acquired at an average price of $9.85 per share, for a total transaction of $305,478.05. Following the completion of the transaction, the director now directly owns 507,678 shares of the company’s stock, valued at $5,000,628.30. The disclosure for this purchase can be found here. 5.07% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Flamel Technologies during the first quarter worth approximately $121,000. Sei Investments Co. boosted its position in shares of Flamel Technologies by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock worth $140,000 after buying an additional 2,900 shares during the last quarter. State of Tennessee Treasury Department acquired a new position in shares of Flamel Technologies during the second quarter worth approximately $194,000. Trexquant Investment LP boosted its position in shares of Flamel Technologies by 30.7% in the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock worth $336,000 after buying an additional 7,169 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Flamel Technologies during the second quarter worth approximately $411,000. Institutional investors and hedge funds own 71.03% of the company’s stock.

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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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