Flamel Technologies S.A. (AVDL) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Flamel Technologies S.A. (NASDAQ:AVDL) from a strong-buy rating to a hold rating in a research report report published on Friday, May 12th.

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. “

Separately, TheStreet cut Flamel Technologies from a c- rating to a d- rating in a research note on Tuesday, March 7th.

Flamel Technologies (NASDAQ AVDL) traded up 1.34% during midday trading on Friday, reaching $10.62. The company had a trading volume of 170,264 shares. The company’s 50-day moving average is $10.05 and its 200 day moving average is $10.03. Flamel Technologies has a 52-week low of $8.75 and a 52-week high of $15.45. The company’s market cap is $439.41 million.

Flamel Technologies (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.19. The firm had revenue of $52.50 million for the quarter, compared to analysts’ expectations of $46.01 million. Flamel Technologies had a negative net margin of 7.28% and a positive return on equity of 14.49%. The company’s revenue was up 45.0% on a year-over-year basis. On average, equities research analysts forecast that Flamel Technologies will post $0.50 EPS for the current year.

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In other Flamel Technologies news, Director Craig R. Stapleton purchased 31,013 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 507,678 shares of the company’s stock, valued at approximately $5,000,628.30. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. US Bancorp DE bought a new stake in shares of Flamel Technologies during the first quarter valued at approximately $121,000. State Street Corp bought a new stake in shares of Flamel Technologies during the fourth quarter valued at approximately $316,000. Knott David M bought a new stake in shares of Flamel Technologies during the fourth quarter valued at approximately $1,035,000. Russell Investments Group Ltd. bought a new stake in shares of Flamel Technologies during the first quarter valued at approximately $3,654,000. Finally, Perceptive Advisors LLC acquired a new stake in Flamel Technologies during the fourth quarter worth $14,424,000. Institutional investors and hedge funds own 71.72% of the company’s stock.

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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