Cubist Systematic Strategies LLC purchased a new stake in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,451 shares of the company's stock, valued at approximately $1,178,000. Cubist Systematic Strategies LLC owned 0.16% of Avadel Pharmaceuticals at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of AVDL. BNP Paribas Financial Markets bought a new stake in shares of Avadel Pharmaceuticals in the fourth quarter valued at about $245,000. California State Teachers Retirement System lifted its stake in shares of Avadel Pharmaceuticals by 10.2% in the fourth quarter. California State Teachers Retirement System now owns 81,448 shares of the company's stock valued at $856,000 after buying an additional 7,544 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Avadel Pharmaceuticals by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company's stock valued at $553,000 after buying an additional 1,882 shares during the period. Northern Trust Corp lifted its stake in shares of Avadel Pharmaceuticals by 11.3% in the fourth quarter. Northern Trust Corp now owns 658,582 shares of the company's stock valued at $6,922,000 after buying an additional 66,948 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Avadel Pharmaceuticals by 2.3% in the first quarter. Rhumbline Advisers now owns 127,027 shares of the company's stock valued at $995,000 after buying an additional 2,890 shares during the period. 69.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on AVDL. HC Wainwright increased their target price on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, September 5th. UBS Group increased their price target on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a research report 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 stock. Based on data from MarketBeat, Avadel Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $20.86.
Check Out Our Latest Research Report on Avadel Pharmaceuticals
Avadel Pharmaceuticals Stock Down 2.9%
AVDL stock traded down $0.46 during midday trading on Friday, reaching $15.40. The company's stock had a trading volume of 1,463,911 shares, compared to its average volume of 1,389,380. Avadel Pharmaceuticals PLC. has a 52 week low of $6.38 and a 52 week high of $16.66. The stock has a market cap of $1.50 billion, a PE ratio of -513.33 and a beta of 1.58. The business's 50-day simple moving average is $12.67 and its 200-day simple moving average is $10.01.
Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $60.28 million. During the same period last year, the firm earned ($0.14) earnings per share. The business's revenue for the quarter was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal year.
About Avadel Pharmaceuticals
(
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.
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