Flamel Technologies S.A. (AVDL) Forecasted to Post Q3 2017 Earnings of ($0.03) Per Share
Flamel Technologies S.A. (NASDAQ:AVDL) – SunTrust Banks dropped their Q3 2017 EPS estimates for shares of Flamel Technologies in a report released on Tuesday. SunTrust Banks analyst J. Boris now forecasts that the company will post earnings per share of ($0.03) for the quarter, down from their previous forecast of ($0.02). SunTrust Banks also issued estimates for Flamel Technologies’ Q4 2017 earnings at ($0.12) EPS, FY2018 earnings at $0.33 EPS, FY2019 earnings at $0.50 EPS, FY2020 earnings at $1.05 EPS and FY2021 earnings at $1.98 EPS.
Flamel Technologies (NASDAQ:AVDL) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.14. The firm had revenue of $46.30 million during the quarter, compared to analyst estimates of $45.17 million. Flamel Technologies had a return on equity of 34.85% and a net margin of 21.13%. The company’s revenue was up 19.0% compared to the same quarter last year.
Several other research firms have also recently issued reports on AVDL. 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 report on Monday, July 17th. Roth Capital set a $15.00 price objective on shares of Flamel Technologies and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Flamel Technologies has an average rating of “Buy” and a consensus price target of $14.75.
Shares of Flamel Technologies (AVDL) opened at 8.35 on Friday. The company has a 50 day moving average price of $10.15 and a 200-day moving average price of $9.98. The stock has a market cap of $334.69 million, a price-to-earnings ratio of 8.82 and a beta of 1.37. Flamel Technologies has a one year low of $8.14 and a one year high of $15.45.
In related news, major shareholder Healthcare Master Fun Broadfin sold 261,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $10.68, for a total value of $2,787,480.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig R. Stapleton purchased 31,013 shares of Flamel Technologies stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $9.85 per share, with a total value of $305,478.05. Following the completion of the transaction, the director now 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 currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Flamel Technologies during the first quarter worth $3,654,000. US Bancorp DE bought a new stake in shares of Flamel Technologies during the first quarter worth $121,000. Acadian Asset Management LLC boosted its stake in shares of Flamel Technologies by 9.7% in the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock worth $18,444,000 after buying an additional 147,907 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of 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 worth $464,000 after buying an additional 9,175 shares during the period. Finally, Sei Investments Co. boosted its stake 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 period. 71.03% of the stock is owned by hedge funds and other institutional investors.
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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