Crossmark Global Holdings Inc. Purchases Shares of 26,666 Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Crossmark Global Holdings Inc. acquired a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,666 shares of the company’s stock, valued at approximately $350,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Avadel Pharmaceuticals by 10.7% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 99,075 shares of the company’s stock valued at $1,299,000 after acquiring an additional 9,600 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 167,700 shares of the company’s stock valued at $2,199,000 after purchasing an additional 50,000 shares during the period. Diversify Wealth Management LLC boosted its position in shares of Avadel Pharmaceuticals by 8.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock valued at $418,000 after purchasing an additional 2,432 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Avadel Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock worth $243,000 after purchasing an additional 7,224 shares during the period. Finally, Claro Advisors LLC increased its holdings in Avadel Pharmaceuticals by 379.2% in the third quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock worth $644,000 after purchasing an additional 38,837 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Avadel Pharmaceuticals Stock Down 5.9 %

Shares of AVDL opened at $10.91 on Monday. The business’s fifty day moving average is $13.49 and its 200 day moving average is $14.98. Avadel Pharmaceuticals plc has a 12-month low of $10.39 and a 12-month high of $19.09. The stock has a market cap of $1.05 billion, a P/E ratio of -13.81 and a beta of 1.47.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.41) earnings per share. On average, analysts expect that Avadel Pharmaceuticals plc will post -0.48 EPS for the current 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.