Nuveen LLC Invests $4.06 Million in Avadel Pharmaceuticals PLC. $AVDL

Key Points

• Nuveen LLC has acquired a new stake in Avadel Pharmaceuticals PLC by purchasing 517,939 shares valued at approximately $4 million, now holding about 0.54% of the company.
• The stock of Avadel Pharmaceuticals is currently trading around $14.87, with a market capitalization of $1.44 billion and a 1-year price fluctuation between $6.38 and $16.66.
• Research analysts have a positive outlook, with many upgrading the stock to a "strong-buy" rating and setting target prices notably above the current trading price, indicating expected growth.

Nuveen LLC acquired a new stake in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 517,939 shares of the company's stock, valued at approximately $4,055,000. Nuveen LLC owned 0.54% of Avadel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Avadel Pharmaceuticals by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 226,439 shares of the company's stock worth $1,773,000 after buying an additional 3,641 shares during the last quarter. Exencial Wealth Advisors LLC purchased a new position in shares of Avadel Pharmaceuticals in the 1st quarter valued at approximately $82,000. Thoroughbred Financial Services LLC acquired a new position in shares of Avadel Pharmaceuticals in the first quarter valued at approximately $82,000. Kazazian Asset Management LLC raised its stake in shares of Avadel Pharmaceuticals by 784.3% during the first quarter. Kazazian Asset Management LLC now owns 106,120 shares of the company's stock worth $831,000 after purchasing an additional 94,120 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Avadel Pharmaceuticals by 92.5% during the first quarter. XTX Topco Ltd now owns 50,988 shares of the company's stock worth $399,000 after purchasing an additional 24,506 shares during the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVDL. HC Wainwright reissued 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. Deutsche Bank Aktiengesellschaft reiterated 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 report on Friday, August 8th. UBS Group boosted their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $19.67.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock traded up $0.47 during trading hours on Tuesday, hitting $15.23. The stock had a trading volume of 239,441 shares, compared to its average volume of 1,334,463. Avadel Pharmaceuticals PLC. has a 1-year low of $6.38 and a 1-year high of $16.66. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -508.33 and a beta of 1.57. The stock's fifty day moving average is $11.54 and its two-hundred day moving average is $9.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $60.28 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The business's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) EPS. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

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.