Charles Schwab Investment Management Inc. Raises Stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Charles Schwab Investment Management Inc. boosted its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 222,798 shares of the company’s stock after acquiring an additional 2,434 shares during the period. Charles Schwab Investment Management Inc. owned about 0.23% of Avadel Pharmaceuticals worth $2,342,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Iridian Asset Management LLC CT boosted its position in shares of Avadel Pharmaceuticals by 1.1% during the 4th quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,886 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Avadel Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock valued at $215,000 after purchasing an additional 1,916 shares in the last quarter. FMR LLC acquired a new position in Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Rhumbline Advisers increased its stake in Avadel Pharmaceuticals by 2.0% in the fourth quarter. Rhumbline Advisers now owns 124,137 shares of the company’s stock valued at $1,305,000 after purchasing an additional 2,492 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings 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 purchasing an additional 2,846 shares in the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ AVDL opened at $8.01 on Friday. The company has a market cap of $774.00 million, a PE ratio of -10.14 and a beta of 1.57. The stock has a fifty day moving average price of $8.18 and a 200 day moving average price of $10.64. Avadel Pharmaceuticals plc has a 1-year low of $7.39 and a 1-year high of $19.09.

Insider Transactions at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, Director Linda Palczuk bought 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was acquired at an average cost of $7.93 per share, with a total value of $39,650.00. Following the purchase, the director now owns 67,900 shares in the company, valued at approximately $538,447. This represents a 7.95 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter J. Thornton purchased 10,000 shares of Avadel Pharmaceuticals stock in a transaction dated Monday, January 13th. The stock was acquired at an average cost of $8.04 per share, with a total value of $80,400.00. Following the completion of the acquisition, the director now directly owns 104,055 shares in the company, valued at approximately $836,602.20. This trade represents a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AVDL. UBS Group cut their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 target price for the company. Piper Sandler cut their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a report on Monday, March 3rd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $19.88.

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.