Cetera Investment Advisers Sells 6,191 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Cetera Investment Advisers trimmed its position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 5.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,787 shares of the company’s stock after selling 6,191 shares during the quarter. Cetera Investment Advisers owned approximately 0.11% of Avadel Pharmaceuticals worth $1,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AVDL. Amalgamated Bank acquired a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $45,000. Chilton Capital Management LLC acquired a new stake in Avadel Pharmaceuticals in the first quarter worth $51,000. Quarry LP acquired a new stake in Avadel Pharmaceuticals in the second quarter worth $63,000. BNP Paribas Financial Markets grew its holdings in Avadel Pharmaceuticals by 60.5% in the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after purchasing an additional 1,685 shares during the period. Finally, Beverly Hills Private Wealth LLC acquired a new position in shares of Avadel Pharmaceuticals during the second quarter valued at about $146,000. 69.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVDL has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.57.

Avadel Pharmaceuticals Trading Up 0.2 %

Shares of NASDAQ:AVDL opened at $13.20 on Wednesday. Avadel Pharmaceuticals plc has a 12 month low of $9.50 and a 12 month high of $19.09. The stock has a market cap of $1.27 billion, a P/E ratio of -7.10 and a beta of 1.50. The company has a 50 day moving average of $14.40 and a 200 day moving average of $15.56.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The business had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.47 million. Avadel Pharmaceuticals had a negative net margin of 111.64% and a negative return on equity of 122.64%. The business’s quarterly revenue was up 2666.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) EPS. On average, equities analysts forecast that Avadel Pharmaceuticals plc will post -0.5 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.