CIBC Private Wealth Group LLC Has $898,000 Stock Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

CIBC Private Wealth Group LLC cut its holdings in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDLFree Report) by 31.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,629 shares of the company’s stock after selling 29,799 shares during the quarter. CIBC Private Wealth Group LLC owned 0.07% of Avadel Pharmaceuticals worth $898,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AVDL. Quantbot Technologies LP acquired a new stake in Avadel Pharmaceuticals during the 3rd quarter worth about $78,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Avadel Pharmaceuticals by 16.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,911 shares of the company’s stock valued at $411,000 after buying an additional 5,663 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Avadel Pharmaceuticals by 95.6% during the 3rd quarter. Deutsche Bank AG now owns 440,000 shares of the company’s stock valued at $4,532,000 after buying an additional 215,000 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Avadel Pharmaceuticals by 7.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 21,950 shares of the company’s stock valued at $226,000 after buying an additional 1,500 shares during the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in shares of Avadel Pharmaceuticals by 12.4% during the 3rd quarter. Brandes Investment Partners LP now owns 1,448,772 shares of the company’s stock valued at $14,922,000 after buying an additional 159,577 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Stock Down 0.8 %

Shares of NASDAQ AVDL opened at $15.13 on Monday. The business’s 50 day moving average is $16.64 and its two-hundred day moving average is $15.18. The company has a market cap of $1.45 billion, a P/E ratio of -8.13 and a beta of 1.75. Avadel Pharmaceuticals plc has a 12 month low of $9.50 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $27.18 million during the quarter, compared to the consensus estimate of $25.89 million. Avadel Pharmaceuticals had a negative return on equity of 139.72% and a negative net margin of 284.42%. The business’s quarterly revenue was up 2617.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.48) earnings per share. Sell-side analysts expect that Avadel Pharmaceuticals plc will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

AVDL has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Wednesday, May 8th. HC Wainwright raised their price objective on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Oppenheimer raised their price objective on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Craig Hallum raised their price objective on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, Piper Sandler raised their price objective on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals presently has an average rating of “Buy” and an average price target of $24.17.

Get Our Latest Stock Report on Avadel Pharmaceuticals

Avadel Pharmaceuticals Profile

(Free Report)

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

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