Vanguard Group Inc. Sells 48,597 Shares of Avadel Pharmaceuticals PLC. $AVDL

Vanguard Group Inc. decreased its position in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,904,650 shares of the company’s stock after selling 48,597 shares during the period. Vanguard Group Inc. owned about 4.04% of Avadel Pharmaceuticals worth $30,573,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Two Seas Capital LP increased its holdings in shares of Avadel Pharmaceuticals by 90.6% in the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company’s stock worth $45,156,000 after purchasing an additional 2,042,669 shares during the period. Janus Henderson Group PLC grew its stake in shares of Avadel Pharmaceuticals by 5.7% during the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company’s stock valued at $148,117,000 after buying an additional 753,332 shares during the last quarter. Braidwell LP grew its stake in shares of Avadel Pharmaceuticals by 21.2% during the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company’s stock valued at $43,151,000 after buying an additional 716,787 shares during the last quarter. Tang Capital Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 21.7% during the fourth quarter. Tang Capital Management LLC now owns 1,497,500 shares of the company’s stock worth $15,739,000 after purchasing an additional 267,500 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 23.9% during the fourth quarter. Millennium Management LLC now owns 1,212,004 shares of the company’s stock worth $12,738,000 after purchasing an additional 233,986 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AVDL shares. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. HC Wainwright restated a “buy” rating and issued a $24.00 price objective (up from $22.00) on shares of Avadel Pharmaceuticals in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Zacks Research raised shares of Avadel Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $19.67.

Avadel Pharmaceuticals Stock Performance

AVDL opened at $14.87 on Thursday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -495.67 and a beta of 1.47. The firm’s fifty day moving average is $11.22 and its 200 day moving average is $9.45. Avadel Pharmaceuticals PLC. has a fifty-two week low of $6.38 and a fifty-two week high of $16.66.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The firm had revenue of $68.13 million during the quarter, compared to analyst estimates of $60.28 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Avadel Pharmaceuticals’s revenue for the quarter was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current year.

About Avadel Pharmaceuticals

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.