HAP Trading LLC Takes $281,000 Position in Avadel Pharmaceuticals PLC. $AVDL

Key Points

• HAP Trading LLC has invested $281,000 in Avadel Pharmaceuticals PLC, acquiring 35,846 shares in the first quarter of this year.
• Multiple institutional investors have increased their stakes in Avadel Pharmaceuticals, with total institutional ownership now at 69.19%.
• Avadel Pharmaceuticals recently reported earnings of $0.10 per share, surpassing expectations, and saw a 64.1% year-over-year increase in revenue.

HAP Trading LLC purchased a new stake in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,846 shares of the company's stock, valued at approximately $281,000.

A number of other institutional investors have also made changes to their positions in AVDL. Janus Henderson Group PLC raised its position in Avadel Pharmaceuticals by 5.7% during the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock worth $148,117,000 after acquiring an additional 753,332 shares in the last quarter. Two Seas Capital LP raised its position in Avadel Pharmaceuticals by 90.6% during the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after acquiring an additional 2,042,669 shares in the last quarter. Braidwell LP increased its holdings in shares of Avadel Pharmaceuticals by 21.2% in the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company's stock valued at $43,151,000 after purchasing an additional 716,787 shares during the last quarter. Wealth Effects LLC increased its holdings in shares of Avadel Pharmaceuticals by 1.1% in the first quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock valued at $18,550,000 after purchasing an additional 24,992 shares during the last quarter. Finally, Tang Capital Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 21.7% in the fourth quarter. Tang Capital Management LLC now owns 1,497,500 shares of the company's stock valued at $15,739,000 after purchasing an additional 267,500 shares during the last quarter. Institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Up 1.0%

Avadel Pharmaceuticals stock traded up $0.14 during mid-day trading on Friday, hitting $14.76. 1,646,224 shares of the stock were exchanged, compared to its average volume of 1,373,526. Avadel Pharmaceuticals PLC. has a 12 month low of $6.38 and a 12 month high of $16.66. The firm's fifty day simple moving average is $11.44 and its two-hundred day simple moving average is $9.53. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -492.00 and a beta of 1.57.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. During the same quarter last year, the firm posted ($0.14) EPS. Avadel Pharmaceuticals's revenue was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts forecast that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on AVDL shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Zacks Research upgraded shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 8th. Needham & Company LLC reiterated a "buy" rating and set a $19.00 price objective on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. UBS Group increased their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $19.67.

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.