Barclays PLC Has $5.15 Million Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Barclays PLC boosted its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 45.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 392,691 shares of the company’s stock after acquiring an additional 123,430 shares during the quarter. Barclays PLC owned 0.41% of Avadel Pharmaceuticals worth $5,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC bought a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter valued at approximately $31,000. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals in the 2nd quarter valued at $45,000. Quarry LP bought a new stake in Avadel Pharmaceuticals in the second quarter valued at $63,000. Advisors Asset Management Inc. raised its stake in Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock worth $104,000 after acquiring an additional 2,846 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC bought a new position in shares of Avadel Pharmaceuticals during the second quarter valued at $146,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Insider Buying and Selling at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, CFO Thomas S. Mchugh bought 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $10.49 per share, for a total transaction of $52,450.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey Michael Glass purchased 20,279 shares of Avadel Pharmaceuticals stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of $9.84 per share, for a total transaction of $199,545.36. Following the completion of the transaction, the director now directly owns 75,904 shares in the company, valued at $746,895.36. The trade was a 36.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 40,579 shares of company stock worth $406,313. Company insiders own 4.80% of the company’s stock.

Avadel Pharmaceuticals Price Performance

Shares of Avadel Pharmaceuticals stock opened at $10.31 on Friday. The firm has a 50 day simple moving average of $12.20 and a 200 day simple moving average of $14.01. Avadel Pharmaceuticals plc has a fifty-two week low of $9.41 and a fifty-two week high of $19.09. The firm has a market cap of $993.49 million, a P/E ratio of -13.05 and a beta of 1.32.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVDL. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. HC Wainwright decreased their price objective on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Oppenheimer lifted their target price 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, the company has an average rating of “Buy” and an average price target of $24.43.

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.