Northern Trust Corp increased its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,582 shares of the company's stock after purchasing an additional 66,948 shares during the quarter. Northern Trust Corp owned 0.68% of Avadel Pharmaceuticals worth $6,922,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AVDL. Two Seas Capital LP increased its stake in Avadel Pharmaceuticals by 90.6% in the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after purchasing an additional 2,042,669 shares in the last quarter. Brandes Investment Partners LP lifted its stake in Avadel Pharmaceuticals by 58.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company's stock valued at $22,840,000 after buying an additional 798,415 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 79.7% in the fourth quarter. Kennedy Capital Management LLC now owns 1,056,934 shares of the company's stock worth $11,108,000 after buying an additional 468,757 shares during the period. Renaissance Technologies LLC increased its position in shares of Avadel Pharmaceuticals by 1,703.7% in the fourth quarter. Renaissance Technologies LLC now owns 387,800 shares of the company's stock worth $4,076,000 after acquiring an additional 366,300 shares in the last quarter. Finally, Knott David M Jr purchased a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $3,646,000. 69.19% of the stock is owned by institutional investors and hedge funds.
Avadel Pharmaceuticals Stock Performance
NASDAQ:AVDL opened at $9.35 on Tuesday. The firm's 50-day moving average is $8.26 and its 200-day moving average is $9.26. The company has a market cap of $903.48 million, a price-to-earnings ratio of -11.84 and a beta of 1.40. Avadel Pharmaceuticals plc has a 52-week low of $6.38 and a 52-week high of $17.30.
Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $52.51 million during the quarter, compared to analysts' expectations of $50.57 million. During the same period last year, the business earned ($0.30) earnings per share. Avadel Pharmaceuticals's quarterly revenue was up 93.2% compared to the same quarter last year. Equities analysts predict that Avadel Pharmaceuticals plc will post -0.51 EPS for the current year.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals currently has an average rating of "Buy" and a consensus price target of $19.43.
Get Our Latest Report on AVDL
Avadel Pharmaceuticals Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Avadel Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Avadel Pharmaceuticals wasn't on the list.
While Avadel Pharmaceuticals currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
