Intech Investment Management LLC Acquires New Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Intech Investment Management LLC bought a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,340 shares of the company’s stock, valued at approximately $214,000.

Several other large investors also recently made changes to their positions in AVDL. Creative Planning grew its stake in shares of Avadel Pharmaceuticals by 8.2% in the third quarter. Creative Planning now owns 12,381 shares of the company’s stock worth $162,000 after purchasing an additional 938 shares in the last quarter. MAI Capital Management lifted its holdings in Avadel Pharmaceuticals by 1.0% in the third quarter. MAI Capital Management now owns 107,533 shares of the company’s stock worth $1,410,000 after purchasing an additional 1,031 shares during the period. Investors Asset Management of Georgia Inc. GA ADV grew its position in Avadel Pharmaceuticals by 2.4% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,475 shares of the company’s stock valued at $1,258,000 after buying an additional 2,100 shares in the last quarter. Modera Wealth Management LLC increased its stake in Avadel Pharmaceuticals by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock valued at $8,473,000 after buying an additional 2,159 shares during the period. Finally, Diversify Wealth Management LLC raised 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 worth $418,000 after buying an additional 2,432 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $10.00 on Friday. Avadel Pharmaceuticals plc has a 1 year low of $9.41 and a 1 year high of $19.09. The business’s fifty day moving average is $12.70 and its two-hundred day moving average is $14.38. The stock has a market capitalization of $963.60 million, a P/E ratio of -12.66 and a beta of 1.32.

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