Russell Investments Group Ltd. Acquires 11,350 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Russell Investments Group Ltd. lifted its holdings in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 9.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 128,241 shares of the company’s stock after acquiring an additional 11,350 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Avadel Pharmaceuticals worth $1,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AVDL. Iridian Asset Management LLC CT raised its stake in Avadel Pharmaceuticals by 1.1% during the fourth quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,886 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Avadel Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock worth $215,000 after purchasing an additional 1,916 shares during the last quarter. FMR LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter worth about $31,000. Charles Schwab Investment Management Inc. increased its position in shares of Avadel Pharmaceuticals by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 222,798 shares of the company’s stock worth $2,342,000 after purchasing an additional 2,434 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Avadel Pharmaceuticals by 2.0% during the 4th quarter. Rhumbline Advisers now owns 124,137 shares of the company’s stock valued at $1,305,000 after purchasing an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Insider Transactions at Avadel Pharmaceuticals

In related news, Director Linda Palczuk bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were acquired at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the acquisition, the director now owns 67,900 shares of the company’s stock, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

AVDL has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $19.88.

Avadel Pharmaceuticals Trading Down 1.5 %

Shares of AVDL opened at $8.03 on Monday. Avadel Pharmaceuticals plc has a 12 month low of $6.38 and a 12 month high of $19.09. The firm has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $9.91. The stock has a market capitalization of $775.93 million, a price-to-earnings ratio of -10.16 and a beta of 1.52.

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.