Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Sees Large Increase in Short Interest

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,607,258 shares, an increase of 32.1% from the December 31st total of 2,730,297 shares. Based on an average daily trading volume, of 2,113,434 shares, the short-interest ratio is currently 1.7 days. Approximately 3.9% of the shares of the company are sold short. Approximately 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 2,113,434 shares, the short-interest ratio is currently 1.7 days.

Avadel Pharmaceuticals Stock Up 0.1%

NASDAQ AVDL opened at $21.58 on Wednesday. The business has a 50 day moving average price of $21.48 and a 200 day moving average price of $17.77. Avadel Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Tuesday, November 4th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $78.05 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 55.0% compared to the same quarter last year. On average, analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

Several large investors have recently modified their holdings of AVDL. TD Waterhouse Canada Inc. acquired a new position in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $27,000. Nisa Investment Advisors LLC increased its position in Avadel Pharmaceuticals by 164.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after buying an additional 2,055 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Avadel Pharmaceuticals by 195.4% in the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after acquiring an additional 2,296 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Avadel Pharmaceuticals in the second quarter worth $65,000. Finally, Tower Research Capital LLC TRC lifted its position 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 valued at $78,000 after acquiring an additional 6,025 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVDL. Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Leerink Partners downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. UBS Group lowered Avadel Pharmaceuticals to a “neutral” rating in a report on Tuesday, October 28th. Needham & Company LLC downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Craig Hallum cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $18.86.

About Avadel Pharmaceuticals

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.