Deutsche Bank AG Has $5.35 Million Stock Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Deutsche Bank AG boosted its holdings in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 508,696 shares of the company's stock after purchasing an additional 32,227 shares during the period. Deutsche Bank AG owned approximately 0.53% of Avadel Pharmaceuticals worth $5,346,000 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. Barclays PLC lifted its stake in Avadel Pharmaceuticals by 45.8% during the third quarter. Barclays PLC now owns 392,691 shares of the company's stock valued at $5,150,000 after purchasing an additional 123,430 shares during the last quarter. Krilogy Financial LLC lifted its position in shares of Avadel Pharmaceuticals by 53.6% in the 4th quarter. Krilogy Financial LLC now owns 26,362 shares of the company's stock valued at $277,000 after acquiring an additional 9,200 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Avadel Pharmaceuticals by 33.1% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,481 shares of the company's stock valued at $373,000 after acquiring an additional 8,815 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Avadel Pharmaceuticals by 274.6% in the 4th quarter. SG Americas Securities LLC now owns 46,767 shares of the company's stock valued at $492,000 after acquiring an additional 34,281 shares in the last quarter. Finally, Wealth Effects LLC lifted its position in shares of Avadel Pharmaceuticals by 4.9% in the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company's stock valued at $24,637,000 after acquiring an additional 110,359 shares in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AVDL shares. HC Wainwright restated a "buy" rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $19.43.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock traded down $0.27 during trading hours on Thursday, hitting $8.88. The company had a trading volume of 986,509 shares, compared to its average volume of 1,231,106. The firm has a market capitalization of $859.04 million, a P/E ratio of -11.24 and a beta of 1.40. The firm's fifty day moving average is $8.29 and its 200-day moving average is $9.26. Avadel Pharmaceuticals plc has a fifty-two week low of $6.38 and a fifty-two week high of $17.30.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $52.51 million for the quarter, compared to analyst estimates of $50.57 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company's revenue for the quarter was up 93.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.30) EPS. Analysts anticipate that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current year.

Avadel Pharmaceuticals 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.