Woodline Partners LP Has $7.02 Million Stock Holdings in Avadel Pharmaceuticals PLC. $AVDL

Key Points

• Woodline Partners LP increased its stake in Avadel Pharmaceuticals by 78.7%, acquiring an additional 395,040 shares in the first quarter, bringing its total ownership to 896,861 shares valued at approximately $7 million.
• Avadel Pharmaceuticals reported a significant 64.1% increase in quarterly revenue year-over-year, reaching $68.13 million, and earnings per share of $0.10, surpassing analysts' expectations.
• Analysts have a generally positive outlook on Avadel Pharmaceuticals, with an average rating of "Buy" and a projected price target of $20.86, as several brokerages have recently upgraded the stock.

Woodline Partners LP boosted its position in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Free Report) by 78.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 896,861 shares of the company's stock after purchasing an additional 395,040 shares during the period. Woodline Partners LP owned approximately 0.93% of Avadel Pharmaceuticals worth $7,022,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AVDL. Two Seas Capital LP lifted its position in Avadel Pharmaceuticals by 90.6% in the fourth 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 period. Nuveen LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at $4,055,000. Tang Capital Management LLC lifted its position in shares of Avadel Pharmaceuticals by 21.7% during the 4th quarter. Tang Capital Management LLC now owns 1,497,500 shares of the company's stock valued at $15,739,000 after acquiring an additional 267,500 shares during the last quarter. Millennium Management LLC lifted its position in shares of Avadel Pharmaceuticals by 23.9% during the 4th quarter. Millennium Management LLC now owns 1,212,004 shares of the company's stock valued at $12,738,000 after acquiring an additional 233,986 shares during the last quarter. Finally, Invenomic Capital Management LP acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at $1,785,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Stock Up 2.3%

Shares of AVDL traded up $0.37 during mid-day trading on Thursday, reaching $16.03. The company's stock had a trading volume of 369,027 shares, compared to its average volume of 1,357,658. The business has a fifty day moving average of $13.05 and a 200 day moving average of $10.15. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -534.60 and a beta of 1.58. Avadel Pharmaceuticals PLC. has a 1 year low of $6.38 and a 1 year high of $16.66.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The company had revenue of $68.13 million during the quarter, compared to analyst estimates of $60.28 million. During the same quarter in the prior year, the company earned ($0.14) earnings per share. 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. On average, analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AVDL. Lifesci Capital upgraded Avadel Pharmaceuticals to a "strong-buy" 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. Wells Fargo & Company upgraded Avadel Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, UBS Group increased their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target 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.