Avadel Pharmaceuticals plc (NASDAQ:AVDL) Stock Holdings Reduced by Woodline Partners LP

Woodline Partners LP lowered its position in Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,116,029 shares of the company’s stock after selling 146,973 shares during the quarter. Woodline Partners LP owned approximately 3.58% of Avadel Pharmaceuticals worth $14,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVDL. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Avadel Pharmaceuticals in the first quarter worth about $26,000. Envestnet Asset Management Inc. lifted its position in shares of Avadel Pharmaceuticals by 46.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,508 shares of the company’s stock worth $158,000 after buying an additional 6,169 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Avadel Pharmaceuticals by 7.7% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 93,375 shares of the company’s stock worth $638,000 after buying an additional 6,700 shares during the last quarter. BlackRock Inc. lifted its position in shares of Avadel Pharmaceuticals by 22.7% in the first quarter. BlackRock Inc. now owns 36,706 shares of the company’s stock worth $251,000 after buying an additional 6,782 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Avadel Pharmaceuticals in the first quarter worth about $79,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Avadel Pharmaceuticals Trading Up 2.5 %

Avadel Pharmaceuticals stock opened at $6.19 on Monday. The business has a 50 day moving average price of $5.59 and a two-hundred day moving average price of $5.20. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 2.11. Avadel Pharmaceuticals plc has a 12 month low of $1.05 and a 12 month high of $11.59.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.60). During the same quarter in the previous year, the business earned ($0.33) earnings per share. Equities research analysts predict that Avadel Pharmaceuticals plc will post -1.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVDL shares. SVB Leerink boosted their price target on Avadel Pharmaceuticals from $6.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Stifel Nicolaus boosted their price objective on Avadel Pharmaceuticals from $2.00 to $5.00 in a research report on Tuesday, July 19th. Oppenheimer cut their price objective on Avadel Pharmaceuticals to $13.00 in a research report on Friday, May 27th. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Avadel Pharmaceuticals in a research report on Friday, July 1st. Finally, Needham & Company LLC boosted their price objective on Avadel Pharmaceuticals from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Avadel Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $10.29.

About Avadel Pharmaceuticals

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Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.

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Institutional Ownership by Quarter for Avadel Pharmaceuticals (NASDAQ:AVDL)

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