Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) saw some unusual options trading activity on Tuesday. Stock investors purchased 4,733 call options on the stock. This is an increase of approximately 92% compared to the typical daily volume of 2,463 call options.
Avadel Pharmaceuticals Stock Performance
Shares of AVDL opened at $18.09 on Wednesday. The firm’s 50 day moving average price is $15.38 and its two-hundred day moving average price is $13.56. Avadel Pharmaceuticals has a twelve month low of $9.50 and a twelve month high of $18.85. The firm has a market cap of $1.64 billion, a P/E ratio of -8.87 and a beta of 1.60.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last announced its earnings results on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $19.45 million for the quarter, compared to analysts’ expectations of $17.41 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. On average, sell-side analysts anticipate that Avadel Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.
Analyst Ratings Changes
Get Our Latest Stock Report on Avadel Pharmaceuticals
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in Avadel Pharmaceuticals by 658.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock valued at $26,000 after acquiring an additional 3,294 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Avadel Pharmaceuticals in the fourth quarter valued at approximately $28,000. Clear Street Markets LLC bought a new stake in shares of Avadel Pharmaceuticals in the fourth quarter worth $34,000. Creative Planning boosted its holdings in Avadel Pharmaceuticals by 15.2% during the second quarter. Creative Planning now owns 15,787 shares of the company’s stock worth $39,000 after purchasing an additional 2,083 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Avadel Pharmaceuticals by 140.2% in the 4th quarter. BNP Paribas Financial Markets now owns 2,784 shares of the company’s stock valued at $39,000 after buying an additional 1,625 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors.
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.
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