Altium Capital Management LLC trimmed its position in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,131 shares of the company's stock after selling 33,344 shares during the period. Avadel Pharmaceuticals makes up 7.9% of Altium Capital Management LLC's portfolio, making the stock its 4th biggest holding. Altium Capital Management LLC owned approximately 0.43% of Avadel Pharmaceuticals worth $3,282,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Avadel Pharmaceuticals by 2.3% during the fourth quarter. Invesco Ltd. now owns 52,142 shares of the company's stock valued at $548,000 after purchasing an additional 1,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Avadel Pharmaceuticals by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company's stock worth $553,000 after buying an additional 1,882 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Avadel Pharmaceuticals by 2.3% during the first quarter. Rhumbline Advisers now owns 127,027 shares of the company's stock worth $995,000 after buying an additional 2,890 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 57,068 shares of the company's stock valued at $600,000 after purchasing an additional 3,271 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Avadel Pharmaceuticals by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 226,439 shares of the company's stock valued at $1,773,000 after purchasing an additional 3,641 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.
Avadel Pharmaceuticals Stock Performance
Shares of AVDL stock traded up $0.19 during midday trading on Friday, hitting $13.69. 1,067,063 shares of the company were exchanged, compared to its average volume of 1,223,146. The firm has a market capitalization of $1.33 billion, a P/E ratio of -456.33 and a beta of 1.47. The firm's 50 day moving average price is $10.44 and its two-hundred day moving average price is $9.09. Avadel Pharmaceuticals PLC. has a 52 week low of $6.38 and a 52 week high of $16.66.
Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.02 by $0.08. The business had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. Avadel Pharmaceuticals's revenue was up 64.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) EPS. Analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AVDL. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. HC Wainwright reaffirmed a "buy" rating and issued a $24.00 price objective (up from $22.00) on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. 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, Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 8th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $18.67.
Read Our Latest Research Report on AVDL
Avadel Pharmaceuticals Company 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.
See Also

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
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.