10,165 Shares in Avadel Pharmaceuticals plc (NASDAQ:AVDL) Purchased by Claro Advisors LLC

Claro Advisors LLC purchased a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,165 shares of the company’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVDL. Quarry LP purchased a new stake in Avadel Pharmaceuticals during the fourth quarter valued at about $120,000. China Universal Asset Management Co. Ltd. lifted its holdings in Avadel Pharmaceuticals by 349.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock valued at $146,000 after purchasing an additional 8,029 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in Avadel Pharmaceuticals by 7.3% during the third quarter. Kestra Advisory Services LLC now owns 21,950 shares of the company’s stock valued at $226,000 after purchasing an additional 1,500 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Avadel Pharmaceuticals by 3.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 24,900 shares of the company’s stock valued at $352,000 after purchasing an additional 900 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in Avadel Pharmaceuticals by 17.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 53,451 shares of the company’s stock valued at $755,000 after purchasing an additional 7,865 shares during the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AVDL. Craig Hallum upped their price objective on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Wednesday, May 8th. Piper Sandler upped their price objective on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Oppenheimer upped their price objective on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, HC Wainwright upped their price objective on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.57.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ AVDL opened at $13.89 on Wednesday. Avadel Pharmaceuticals plc has a one year low of $9.50 and a one year high of $19.09. The firm’s 50 day simple moving average is $15.97 and its two-hundred day simple moving average is $15.43. The stock has a market capitalization of $1.34 billion, a P/E ratio of -7.47 and a beta of 1.53.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $25.89 million. Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The firm’s revenue was up 2617.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.48) earnings per share. As a group, equities analysts expect that Avadel Pharmaceuticals plc will post -0.58 earnings per share for the current fiscal year.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.