Nuveen Asset Management LLC Has $3.21 Million Stock Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Nuveen Asset Management LLC boosted its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 21.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,462 shares of the company's stock after purchasing an additional 54,773 shares during the quarter. Nuveen Asset Management LLC owned about 0.32% of Avadel Pharmaceuticals worth $3,210,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in shares of Avadel Pharmaceuticals by 5.7% in the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock valued at $148,117,000 after acquiring an additional 753,332 shares during the period. Two Seas Capital LP boosted its position in shares of Avadel Pharmaceuticals by 90.6% in the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock valued at $45,156,000 after acquiring an additional 2,042,669 shares during the period. Braidwell LP boosted its position 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 acquiring an additional 716,787 shares during the period. Vanguard Group Inc. boosted its position in shares of Avadel Pharmaceuticals by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,953,247 shares of the company's stock valued at $41,549,000 after acquiring an additional 90,147 shares during the period. Finally, Brandes Investment Partners LP boosted its position in shares of Avadel Pharmaceuticals by 58.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company's stock valued at $22,840,000 after acquiring an additional 798,415 shares during the period. Institutional investors own 69.19% of the company's stock.

Analyst Ratings Changes

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

Avadel Pharmaceuticals Stock Up 1.4%

Avadel Pharmaceuticals stock traded up $0.13 during mid-day trading on Thursday, hitting $9.44. 1,083,849 shares of the company were exchanged, compared to its average volume of 1,243,713. The business has a fifty day moving average of $8.47 and a 200 day moving average of $8.91. Avadel Pharmaceuticals plc has a 1-year low of $6.38 and a 1-year high of $17.30. The company has a market capitalization of $913.22 million, a PE ratio of -11.95 and a beta of 1.40.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced 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 company had revenue of $52.51 million for the quarter, compared to analysts' expectations of $50.57 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The business's revenue for the quarter was up 93.2% on a year-over-year basis. Research analysts expect 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.