Candriam Luxembourg S.C.A. Holds Stake in Flamel Technologies S.A. (AVDL)
Candriam Luxembourg S.C.A. maintained its position in shares of Flamel Technologies S.A. (NASDAQ:AVDL) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,000 shares of the company’s stock at the end of the second quarter. Candriam Luxembourg S.C.A.’s holdings in Flamel Technologies were worth $1,224,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. increased 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 valued at $140,000 after buying an additional 2,900 shares during the last quarter. 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 in the last quarter. Acadian Asset Management LLC increased its position in Flamel Technologies by 9.7% in the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock valued at $18,444,000 after buying an additional 147,907 shares in the last quarter. US Bancorp DE purchased a new position in Flamel Technologies during the first quarter valued at about $121,000. Finally, Russell Investments Group Ltd. purchased a new position in Flamel Technologies during the first quarter valued at about $3,654,000. 71.03% of the stock is currently owned by institutional investors and hedge funds.
Flamel Technologies S.A. (NASDAQ:AVDL) opened at 8.62 on Friday. The firm has a market cap of $345.52 million, a P/E ratio of 9.10 and a beta of 1.37. The firm’s 50-day moving average price is $10.09 and its 200 day moving average price is $9.97. Flamel Technologies S.A. has a 12-month low of $8.14 and a 12-month high of $15.45.
Flamel Technologies (NASDAQ:AVDL) last posted its earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $45.17 million. Flamel Technologies had a net margin of 21.13% and a return on equity of 29.86%. The company’s revenue was up 19.0% on a year-over-year basis. Analysts forecast that Flamel Technologies S.A. will post $0.54 earnings per share for the current fiscal year.
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AVDL has been the topic of several research reports. Roth Capital set a $15.00 price objective on Flamel Technologies and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised Flamel Technologies from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $14.75.
In other Flamel Technologies news, Director Craig R. Stapleton purchased 31,013 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were bought at an average price of $9.85 per share, for a total transaction of $305,478.05. Following the completion of the acquisition, the director now owns 507,678 shares in the company, valued at $5,000,628.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of Flamel Technologies stock in a transaction 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 disclosure for this sale can be found here. Insiders own 5.07% 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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