Linda Palczuk Acquires 5,000 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) Stock

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk acquired 5,000 shares of Avadel Pharmaceuticals stock in a transaction dated Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the transaction, the director now directly owns 67,900 shares in the company, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Linda Palczuk also recently made the following trade(s):

• On Friday, December 6th, Linda Palczuk bought 3,000 shares of Avadel Pharmaceuticals stock. The stock was acquired at an average cost of $10.19 per share, for a total transaction of $30,570.00.

Avadel Pharmaceuticals Price Performance

Shares of Avadel Pharmaceuticals stock opened at $7.85 on Friday. The business has a 50 day simple moving average of $10.04 and a two-hundred day simple moving average of $13.05. The stock has a market capitalization of $756.44 million, a P/E ratio of -9.94 and a beta of 1.31. Avadel Pharmaceuticals plc has a 12 month low of $7.39 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. The company had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. Avadel Pharmaceuticals’s revenue was up 624.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.41) EPS. As a group, research analysts anticipate that Avadel Pharmaceuticals plc will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC purchased a new stake in shares of Avadel Pharmaceuticals during the third quarter worth approximately $31,000. Amalgamated Bank purchased a new position in shares of Avadel Pharmaceuticals during the second quarter worth about $45,000. Quarry LP purchased a new stake in Avadel Pharmaceuticals in the second quarter valued at approximately $63,000. Advisors Asset Management Inc. raised its holdings in shares of Avadel Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after buying an additional 2,846 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Avadel Pharmaceuticals during the 3rd quarter worth approximately $160,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVDL shares. Needham & Company LLC reduced their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, January 9th. UBS Group dropped their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer boosted their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday, January 10th. Finally, Piper Sandler dropped their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $21.00.

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.