Krilogy Financial LLC Increases Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Krilogy Financial LLC boosted its holdings in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 53.6% during the fourth quarter, Holdings Channel reports. The firm owned 26,362 shares of the company’s stock after acquiring an additional 9,200 shares during the quarter. Krilogy Financial LLC’s holdings in Avadel Pharmaceuticals were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVDL. FMR LLC purchased a new position in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $31,000. Amalgamated Bank purchased a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $45,000. Quarry LP purchased a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $63,000. Advisors Asset Management Inc. grew its holdings in shares of 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 acquiring an additional 2,846 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter worth approximately $160,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $7.75 on Monday. Avadel Pharmaceuticals plc has a 52-week low of $7.39 and a 52-week high of $19.09. The firm has a market capitalization of $746.81 million, a PE ratio of -9.81 and a beta of 1.31. The stock has a fifty day simple moving average of $10.53 and a two-hundred day simple moving average of $13.27.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $50.00 million during 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%. The business’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) earnings per share. On average, sell-side analysts forecast that Avadel Pharmaceuticals plc will post -0.49 EPS for the current fiscal year.

Insider Activity at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, CEO Gregory J. Divis purchased 9,598 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of $9.98 per share, with a total value of $95,788.04. Following the acquisition, the chief executive officer now owns 9,598 shares in the company, valued at approximately $95,788.04. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter J. Thornton acquired 10,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was purchased at an average cost of $8.04 per share, with a total value of $80,400.00. Following the purchase, the director now owns 104,055 shares of the company’s stock, valued at $836,602.20. The trade was a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 50,579 shares of company stock valued at $486,713. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $21.00 price target (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday, January 10th. UBS Group cut their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer upped their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC lowered their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. Finally, Piper Sandler lowered their price objective 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. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $21.00.

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.