Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Short Interest Down 36.0% in January

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 2,308,285 shares, a drop of 36.0% from the January 15th total of 3,607,258 shares. Based on an average daily trading volume, of 906,906 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.5% of the shares of the stock are sold short. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 906,906 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. HRT Financial LP acquired a new stake in shares of Avadel Pharmaceuticals during the 4th quarter worth $2,526,000. Groupe la Francaise purchased a new stake in Avadel Pharmaceuticals during the fourth quarter valued at about $10,329,000. Federated Hermes Inc. increased its stake in Avadel Pharmaceuticals by 2,830.3% during the fourth quarter. Federated Hermes Inc. now owns 101,711 shares of the company’s stock worth $2,192,000 after acquiring an additional 98,240 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Avadel Pharmaceuticals during the fourth quarter worth about $812,000. Finally, JBF Capital Inc. purchased a new position in shares of Avadel Pharmaceuticals in the 4th quarter worth about $862,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVDL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Monday, December 29th. HC Wainwright cut shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Thursday, October 23rd. Needham & Company LLC lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Leerink Partners lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Avadel Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Avadel Pharmaceuticals Price Performance

AVDL opened at $21.39 on Friday. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $23.57. The company’s 50 day simple moving average is $21.51 and its 200 day simple moving average is $18.19.

Avadel Pharmaceuticals Company 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.