Trexquant Investment LP bought a new stake in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 129,179 shares of the company's stock, valued at approximately $1,011,000. Trexquant Investment LP owned about 0.13% of Avadel Pharmaceuticals at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HAP Trading LLC purchased a new stake in Avadel Pharmaceuticals during the first quarter valued at approximately $281,000. OMERS ADMINISTRATION Corp bought a new position in shares of Avadel Pharmaceuticals in the first quarter worth approximately $305,000. Knott David M Jr boosted its position in shares of Avadel Pharmaceuticals by 22.8% in the first quarter. Knott David M Jr now owns 426,000 shares of the company's stock worth $3,336,000 after purchasing an additional 79,096 shares during the period. Nuveen LLC bought a new position in shares of Avadel Pharmaceuticals in the first quarter worth approximately $4,055,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Avadel Pharmaceuticals by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 226,439 shares of the company's stock worth $1,773,000 after purchasing an additional 3,641 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.
Avadel Pharmaceuticals Trading Down 1.0%
Shares of NASDAQ:AVDL traded down $0.16 during midday trading on Friday, reaching $15.70. 86,234 shares of the company were exchanged, compared to its average volume of 1,355,841. The business's fifty day moving average is $12.54 and its two-hundred day moving average is $9.94. Avadel Pharmaceuticals PLC. has a one year low of $6.38 and a one year high of $16.66. The stock has a market cap of $1.52 billion, a PE ratio of -524.90 and a beta of 1.58.
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, 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 analyst estimates of $60.28 million. During the same quarter last year, the business earned ($0.14) earnings per share. Avadel Pharmaceuticals's quarterly 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, sell-side analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on AVDL. Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. UBS Group upped their price target on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Finally, HC Wainwright upped their price target on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $20.86.
Check Out Our Latest Research Report on AVDL
About Avadel Pharmaceuticals
(
Free Report)
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.
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