Sanctuary Advisors LLC Takes Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Sanctuary Advisors LLC purchased a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,291 shares of the company’s stock, valued at approximately $140,000.

Several other institutional investors have also bought and sold shares of AVDL. FMR LLC purchased a new stake in Avadel Pharmaceuticals in the third quarter worth $31,000. Advisors Asset Management Inc. lifted its holdings in Avadel Pharmaceuticals by 56.1% during the 3rd 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. Aigen Investment Management LP purchased a new stake in Avadel Pharmaceuticals during the 3rd quarter worth about $160,000. Creative Planning grew its holdings in Avadel Pharmaceuticals by 8.2% during the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after buying an additional 938 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Avadel Pharmaceuticals in the 4th quarter worth approximately $163,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL opened at $7.87 on Thursday. The firm’s 50-day simple moving average is $8.72 and its two-hundred day simple moving average is $11.48. Avadel Pharmaceuticals plc has a fifty-two week low of $7.39 and a fifty-two week high of $19.09. The stock has a market cap of $758.37 million, a PE ratio of -9.96 and a beta of 1.28.

Insider Buying and Selling

In other Avadel Pharmaceuticals news, Director Linda Palczuk acquired 3,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $10.19 per share, for a total transaction of $30,570.00. Following the acquisition, the director now owns 66,400 shares of the company’s stock, valued at $676,616. This represents a 4.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas S. Mchugh acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $10.49 per share, with a total value of $52,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 85,500 shares of the company’s stock, valued at $896,895. The trade was a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 55,579 shares of company stock worth $526,363 in the last 90 days. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

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