Russell Investments Group Ltd. Cuts Stock Holdings in Avadel Pharmaceuticals PLC. $AVDL

Russell Investments Group Ltd. decreased its holdings in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 93.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,124 shares of the company’s stock after selling 120,117 shares during the period. Russell Investments Group Ltd.’s holdings in Avadel Pharmaceuticals were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVDL. BNP Paribas Financial Markets bought a new position in shares of Avadel Pharmaceuticals in the 4th quarter worth $245,000. California State Teachers Retirement System grew its stake in Avadel Pharmaceuticals by 10.2% in the fourth quarter. California State Teachers Retirement System now owns 81,448 shares of the company’s stock valued at $856,000 after purchasing an additional 7,544 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Avadel Pharmaceuticals by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company’s stock valued at $553,000 after purchasing an additional 1,882 shares during the last quarter. Northern Trust Corp grew its stake in Avadel Pharmaceuticals by 11.3% in the fourth quarter. Northern Trust Corp now owns 658,582 shares of the company’s stock valued at $6,922,000 after purchasing an additional 66,948 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Avadel Pharmaceuticals by 2.3% in the first quarter. Rhumbline Advisers now owns 127,027 shares of the company’s stock valued at $995,000 after purchasing an additional 2,890 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVDL. Needham & Company LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. UBS Group lifted their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Zacks Research upgraded Avadel Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 8th. Wells Fargo & Company raised Avadel Pharmaceuticals to a “hold” rating in a research report on Wednesday. Finally, Lifesci Capital raised Avadel Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $19.14.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $14.99 on Friday. The stock’s 50-day simple moving average is $11.87 and its 200-day simple moving average is $9.69. The firm has a market capitalization of $1.46 billion, a PE ratio of -499.67 and a beta of 1.58. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The firm had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.Avadel Pharmaceuticals’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current year.

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.