Avadel Pharmaceuticals PLC. $AVDL Position Lifted by Two Seas Capital LP

Key Points

• Two Seas Capital LP increased its stake in Avadel Pharmaceuticals by 15.1%, making it their 6th largest holding with 4,946,449 shares worth approximately $38.7 million.
• Recent analyst ratings show increased optimism for Avadel, with UBS raising its target price from $13 to $20 and several analysts issuing "buy" or "strong-buy" ratings.
• Avadel reported a quarterly revenue of $68.13 million, exceeding analysts' expectations and reflecting a 64.1% year-over-year increase, along with earnings per share of $0.10.

Two Seas Capital LP lifted its holdings in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) by 15.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,946,449 shares of the company's stock after acquiring an additional 650,000 shares during the quarter. Avadel Pharmaceuticals accounts for 1.2% of Two Seas Capital LP's holdings, making the stock its 6th biggest position. Two Seas Capital LP owned approximately 5.12% of Avadel Pharmaceuticals worth $38,731,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVDL. Hsbc Holdings PLC acquired a new stake in shares of Avadel Pharmaceuticals in the fourth quarter worth $113,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Avadel Pharmaceuticals by 21.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,673 shares of the company's stock worth $386,000 after acquiring an additional 6,445 shares in the last quarter. Northern Trust Corp grew its position in shares of Avadel Pharmaceuticals by 11.3% during the 4th quarter. Northern Trust Corp now owns 658,582 shares of the company's stock valued at $6,922,000 after acquiring an additional 66,948 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Avadel Pharmaceuticals in the 4th quarter valued at about $245,000. Finally, Deutsche Bank AG raised its holdings in Avadel Pharmaceuticals by 6.8% in the 4th quarter. Deutsche Bank AG now owns 508,696 shares of the company's stock worth $5,346,000 after purchasing an additional 32,227 shares during the period. Institutional investors and hedge funds own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL traded down $0.41 during mid-day trading on Friday, reaching $15.45. The company's stock had a trading volume of 311,719 shares, compared to its average volume of 1,357,103. The stock has a 50-day moving average of $12.54 and a two-hundred day moving average of $9.94. The stock has a market capitalization of $1.50 billion, a P/E ratio of -514.90 and a beta of 1.58. Avadel Pharmaceuticals PLC. has a 1-year low of $6.38 and a 1-year high of $16.66.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The firm had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. During the same period in the previous year, the business posted ($0.14) earnings per share. Avadel Pharmaceuticals's quarterly revenue was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

AVDL has been the topic of several research analyst reports. Zacks Research raised Avadel Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Avadel Pharmaceuticals in a report on Friday, August 8th. HC Wainwright increased their price objective on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a "buy" rating in a report on Friday, September 5th. Wall Street Zen raised shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.86.

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.