UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires Shares of 36,897 Avadel Pharmaceuticals plc (NASDAQ:AVDL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the 3rd quarter, Holdings Channel reports. The fund bought 36,897 shares of the company’s stock, valued at approximately $484,000.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Avadel Pharmaceuticals during the 3rd quarter valued at approximately $262,000. MetLife Investment Management LLC boosted its position in shares of Avadel Pharmaceuticals by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 53,797 shares of the company’s stock valued at $706,000 after acquiring an additional 30,313 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Avadel Pharmaceuticals by 18.0% during the 3rd quarter. Townsquare Capital LLC now owns 30,388 shares of the company’s stock valued at $399,000 after acquiring an additional 4,629 shares during the last quarter. FMR LLC purchased a new position in shares of Avadel Pharmaceuticals in the third quarter valued at $31,000. Finally, The Manufacturers Life Insurance Company increased its position in Avadel Pharmaceuticals by 34.4% in the third quarter. The Manufacturers Life Insurance Company now owns 56,399 shares of the company’s stock worth $740,000 after purchasing an additional 14,420 shares during the last quarter. 69.19% of the stock is owned by institutional investors.

Insider Transactions at Avadel Pharmaceuticals

In other news, Director Linda Palczuk purchased 3,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were acquired at an average price of $10.19 per share, for a total transaction of $30,570.00. Following the purchase, the director now owns 66,400 shares in the company, valued at $676,616. This trade represents a 4.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas S. Mchugh acquired 5,000 shares of Avadel Pharmaceuticals stock in a transaction dated Wednesday, December 11th. The stock was purchased at an average price of $10.49 per share, with a total value of $52,450.00. Following the completion of the purchase, the chief financial officer now owns 85,500 shares of the company’s stock, valued at approximately $896,895. The trade was a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 40,579 shares of company stock valued at $406,313. 4.80% of the stock is currently owned by corporate insiders.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ:AVDL opened at $10.31 on Friday. The business has a 50 day simple moving average of $12.20 and a two-hundred day simple moving average of $14.01. Avadel Pharmaceuticals plc has a 1 year low of $9.41 and a 1 year high of $19.09. The firm has a market capitalization of $993.49 million, a PE ratio of -13.05 and a beta of 1.32.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. During the same quarter in the prior year, the company posted ($0.41) EPS. Avadel Pharmaceuticals’s quarterly revenue was up 624.6% on a year-over-year basis. Equities research analysts expect that Avadel Pharmaceuticals plc will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVDL shares. Oppenheimer increased their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. Finally, HC Wainwright reduced their price objective on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals 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.