OMERS ADMINISTRATION Corp Acquires Shares of 39,000 Avadel Pharmaceuticals PLC. $AVDL

Key Points

• OMERS ADMINISTRATION Corp has made a new investment in Avadel Pharmaceuticals PLC, acquiring 39,000 shares valued at approximately $305,000.
• Other institutional investors have also increased their stakes, with Two Seas Capital LP boosting its investment by 90.6% in the fourth quarter.
• Avadel Pharmaceuticals recently announced a quarterly earnings report with a significant revenue increase of 64.1% compared to the previous year, reporting $68.13 million for the quarter.

OMERS ADMINISTRATION Corp acquired a new stake in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,000 shares of the company's stock, valued at approximately $305,000.

A number of other large investors have also recently made changes to their positions in AVDL. Exencial Wealth Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter valued at $82,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter valued at $82,000. Kovack Advisors Inc. purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter valued at $90,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter valued at $110,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Avadel Pharmaceuticals during the fourth quarter valued at $113,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVDL has been the topic of several recent research reports. UBS Group upped their price target on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday, September 3rd. Lifesci Capital raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Avadel Pharmaceuticals in a report on Friday, August 8th. Finally, HC Wainwright upped their price target on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a "buy" rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Avadel Pharmaceuticals has an average rating of "Buy" and an average price target of $20.86.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL traded down $0.34 during mid-day trading on Tuesday, hitting $15.05. 198,348 shares of the company were exchanged, compared to its average volume of 1,354,078. Avadel Pharmaceuticals PLC. has a 1-year low of $6.38 and a 1-year high of $16.66. The company has a 50 day moving average of $12.13 and a 200-day moving average of $9.81. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -501.50 and a beta of 1.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping 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 firm had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company'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. Research analysts anticipate that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal 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.