Avadel Pharmaceuticals PLC. $AVDL Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its stake in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 49.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 134,221 shares of the company’s stock after selling 131,864 shares during the period. Squarepoint Ops LLC owned approximately 0.14% of Avadel Pharmaceuticals worth $1,188,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AVDL. Tower Research Capital LLC TRC boosted its stake in shares of Avadel Pharmaceuticals by 217.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after buying an additional 6,025 shares during the last quarter. Krensavage Asset Management LLC lifted its holdings in Avadel Pharmaceuticals by 0.9% in the second quarter. Krensavage Asset Management LLC now owns 958,877 shares of the company’s stock valued at $8,486,000 after acquiring an additional 8,877 shares during the period. MML Investors Services LLC boosted its position in Avadel Pharmaceuticals by 6.7% in the 2nd quarter. MML Investors Services LLC now owns 207,378 shares of the company’s stock worth $1,835,000 after purchasing an additional 13,072 shares in the last quarter. Man Group plc boosted its position in Avadel Pharmaceuticals by 101.3% in the 2nd quarter. Man Group plc now owns 57,931 shares of the company’s stock worth $513,000 after purchasing an additional 29,149 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Avadel Pharmaceuticals by 30.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 22,823 shares of the company’s stock worth $202,000 after purchasing an additional 5,372 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

AVDL stock opened at $21.47 on Friday. Avadel Pharmaceuticals PLC. has a 52 week low of $6.38 and a 52 week high of $23.57. The firm has a 50-day simple moving average of $19.93 and a 200-day simple moving average of $15.03.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AVDL shares. UBS Group cut shares of Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Piper Sandler downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Needham & Company LLC cut Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Wednesday, October 22nd. Finally, HC Wainwright cut Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $18.13.

Avadel Pharmaceuticals Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.