Claro Advisors LLC Acquires 38,837 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Claro Advisors LLC increased its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 379.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,080 shares of the company’s stock after purchasing an additional 38,837 shares during the quarter. Claro Advisors LLC’s holdings in Avadel Pharmaceuticals were worth $644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at approximately $45,000. Chilton Capital Management LLC acquired a new stake in shares of Avadel Pharmaceuticals during the first quarter worth $51,000. Quarry LP bought a new position in Avadel Pharmaceuticals during the second quarter worth $63,000. BNP Paribas Financial Markets lifted 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 valued at $75,000 after buying an additional 1,685 shares during the period. Finally, Beverly Hills Private Wealth LLC acquired a new position in Avadel Pharmaceuticals in the second quarter valued at $146,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Price Performance

Shares of AVDL opened at $13.57 on Friday. The stock has a 50-day moving average of $14.20 and a 200-day moving average of $15.47. The company has a market cap of $1.30 billion, a PE ratio of -7.29 and a beta of 1.50. Avadel Pharmaceuticals plc has a one year low of $9.50 and a one year high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The company had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.47 million. During the same period in the prior year, the firm earned ($0.70) earnings per share. Avadel Pharmaceuticals’s revenue for the quarter was up 2666.7% on a year-over-year basis. Analysts expect that Avadel Pharmaceuticals plc will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Avadel Pharmaceuticals in a research report on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Friday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.57.

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.