Geode Capital Management LLC Acquires 10,886 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Geode Capital Management LLC raised its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,165,251 shares of the company’s stock after purchasing an additional 10,886 shares during the period. Geode Capital Management LLC owned 1.21% of Avadel Pharmaceuticals worth $12,247,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Iridian Asset Management LLC CT raised its position in shares of 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 during the last quarter. China Universal Asset Management Co. Ltd. lifted its position 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 period. FMR LLC bought a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter valued at $31,000. Charles Schwab Investment Management Inc. increased its position in shares of Avadel Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,798 shares of the company’s stock worth $2,342,000 after buying an additional 2,434 shares during the period. Finally, Rhumbline Advisers raised its stake in Avadel Pharmaceuticals by 2.0% during the fourth quarter. Rhumbline Advisers now owns 124,137 shares of the company’s stock worth $1,305,000 after buying an additional 2,492 shares during the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $7.96 on Tuesday. The stock has a market cap of $769.17 million, a price-to-earnings ratio of -10.08 and a beta of 1.52. Avadel Pharmaceuticals plc has a fifty-two week low of $6.38 and a fifty-two week high of $19.09. The firm’s 50-day simple moving average is $7.95 and its 200 day simple moving average is $9.88.

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.