Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 19.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,707 shares of the company’s stock after acquiring an additional 6,246 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Avadel Pharmaceuticals were worth $295,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVDL. Two Seas Capital LP increased its holdings in Avadel Pharmaceuticals by 90.6% in the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company’s stock worth $45,156,000 after acquiring an additional 2,042,669 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Avadel Pharmaceuticals by 5.7% in the 4th quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company’s stock worth $148,117,000 after acquiring an additional 753,332 shares in the last quarter. Braidwell LP increased its holdings in Avadel Pharmaceuticals by 21.2% in the 4th quarter. Braidwell LP now owns 4,105,726 shares of the company’s stock worth $43,151,000 after acquiring an additional 716,787 shares in the last quarter. Kennedy Capital Management LLC increased its holdings in Avadel Pharmaceuticals by 79.7% in the 4th quarter. Kennedy Capital Management LLC now owns 1,056,934 shares of the company’s stock worth $11,108,000 after acquiring an additional 468,757 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Avadel Pharmaceuticals by 1,703.7% in the 4th quarter. Renaissance Technologies LLC now owns 387,800 shares of the company’s stock worth $4,076,000 after acquiring an additional 366,300 shares in the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $12.75 on Friday. The company has a market capitalization of $1.23 billion, a P/E ratio of -425.00 and a beta of 1.47. Avadel Pharmaceuticals PLC. has a one year low of $6.38 and a one year high of $16.84. The stock has a 50 day moving average price of $10.05 and a 200-day moving average price of $8.89.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The firm had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.94% and a negative net margin of 1.32%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. As a group, equities analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AVDL has been the subject of several analyst reports. Wall Street Zen raised shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. Finally, HC Wainwright upped their price target on Avadel Pharmaceuticals from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $18.67.

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.