Flamel Technologies SA saw a big move last session, as the company’s shares fell nearly 16% on Thursday. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for FLML, as the stock is now down over 19% since Dec 23.
Recently, the U.S. Food and Drug Administration approved a Neostigmine Methylsulfate drug, which may compete with Flamel Technologies’ existing product, Bloxiverz.
The specialty pharmaceutical company has seen a flat track record when it comes to current year estimate revisions over the past few weeks and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
FLML currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the Medical-Drugs industry may consider better-ranked stock like Aerie Pharmaceuticals, Inc. (AERI - Free Report) , which carries a Zacks Rank #1 (Strong Buy).
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