Avadel Pharmaceuticals plc (NASDAQ:AVDL) Shares Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,105 shares of the company’s stock after purchasing an additional 2,780 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Avadel Pharmaceuticals were worth $434,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock valued at $218,182,000 after acquiring an additional 1,789,830 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at $4,921,000. Bank of New York Mellon Corp purchased a new stake in Avadel Pharmaceuticals during the second quarter valued at about $4,575,000. Troluce Capital Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter worth about $2,109,000. Finally, Rhumbline Advisers increased its position in Avadel Pharmaceuticals by 7,840.1% during the 2nd quarter. Rhumbline Advisers now owns 122,675 shares of the company’s stock worth $1,725,000 after purchasing an additional 121,130 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analyst Ratings Changes

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

Avadel Pharmaceuticals Stock Up 8.5 %

Shares of NASDAQ:AVDL opened at $11.67 on Friday. The business has a 50 day moving average price of $13.28 and a 200 day moving average price of $14.84. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -14.77 and a beta of 1.47. Avadel Pharmaceuticals plc has a twelve month low of $10.41 and a twelve month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The firm had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. During the same quarter in the prior year, the business posted ($0.41) earnings per share. The company’s quarterly revenue was up 624.6% compared to the same quarter last year. Analysts anticipate 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.