Trexquant Investment LP Buys New Stake in Avadel Pharmaceuticals PLC. $AVDL

Key Points

• Trexquant Investment LP invested approximately $1.01 million in Avadel Pharmaceuticals (NASDAQ: AVDL), acquiring 129,179 shares in the first quarter of the year.
• Avadel Pharmaceuticals reported a 64.1% increase in quarterly revenue year-over-year, reaching $68.13 million, and earnings per share of $0.10, exceeding analysts' expectations.
• Analysts have generally rated Avadel Pharmaceuticals positively, with two recommending a "strong-buy" and a consensus target price of $20.86.

Trexquant Investment LP acquired a new position in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 129,179 shares of the company's stock, valued at approximately $1,011,000. Trexquant Investment LP owned about 0.13% of Avadel Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in shares of Avadel Pharmaceuticals by 5.7% in the 4th quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock worth $148,117,000 after buying an additional 753,332 shares during the last quarter. Two Seas Capital LP grew its position in Avadel Pharmaceuticals by 90.6% during the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after purchasing an additional 2,042,669 shares during the last quarter. Wealth Effects LLC grew its position in Avadel Pharmaceuticals by 1.1% during the 1st quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock worth $18,550,000 after purchasing an additional 24,992 shares during the last quarter. Tang Capital Management LLC grew its position in Avadel Pharmaceuticals by 21.7% during the 4th quarter. Tang Capital Management LLC now owns 1,497,500 shares of the company's stock worth $15,739,000 after purchasing an additional 267,500 shares during the last quarter. Finally, Millennium Management LLC grew its position in Avadel Pharmaceuticals by 23.9% during the 4th quarter. Millennium Management LLC now owns 1,212,004 shares of the company's stock worth $12,738,000 after purchasing an additional 233,986 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL traded down $0.46 during mid-day trading on Friday, hitting $15.40. The company's stock had a trading volume of 1,463,911 shares, compared to its average volume of 1,389,380. Avadel Pharmaceuticals PLC. has a 1 year low of $6.38 and a 1 year high of $16.66. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -513.33 and a beta of 1.58. The business's fifty day moving average is $12.67 and its two-hundred day moving average is $9.99.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm's revenue was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts anticipate that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVDL shares. Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 3rd. HC Wainwright boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $20.86.

About Avadel Pharmaceuticals

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.