AWM Investment Company Inc. Purchases 275,189 Shares of Avadel Pharmaceuticals PLC. $AVDL

AWM Investment Company Inc. raised its position in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 671.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 316,189 shares of the company’s stock after purchasing an additional 275,189 shares during the quarter. AWM Investment Company Inc. owned 0.33% of Avadel Pharmaceuticals worth $2,798,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brandes Investment Partners LP grew its holdings in shares of Avadel Pharmaceuticals by 14.5% during the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock worth $57,416,000 after buying an additional 820,467 shares in the last quarter. Two Seas Capital LP boosted its position in Avadel Pharmaceuticals by 24.4% during the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock worth $54,472,000 after acquiring an additional 1,208,625 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after acquiring an additional 979,422 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Avadel Pharmaceuticals by 30.1% during the 2nd quarter. Kennedy Capital Management LLC now owns 981,271 shares of the company’s stock worth $8,684,000 after acquiring an additional 227,228 shares in the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Avadel Pharmaceuticals by 78.7% in the first quarter. Woodline Partners LP now owns 896,861 shares of the company’s stock valued at $7,022,000 after purchasing an additional 395,040 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on AVDL. Leerink Partners restated a “market perform” rating and set a $18.50 target price on shares of Avadel Pharmaceuticals in a report on Thursday, October 23rd. Leerink Partnrs cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Lifesci Capital downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Craig Hallum cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group cut Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $18.13.

Avadel Pharmaceuticals Stock Performance

AVDL opened at $21.36 on Friday. The stock’s fifty day simple moving average is $19.22 and its 200 day simple moving average is $14.57. Avadel Pharmaceuticals PLC. has a 1-year low of $6.38 and a 1-year high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). The company had revenue of $77.47 million during the quarter, compared to analyst estimates of $78.05 million. Avadel Pharmaceuticals had a negative net margin of 0.11% and a negative return on equity of 0.33%. Avadel Pharmaceuticals’s revenue for the quarter was up 55.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, research analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal 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.