Investors Purchase Large Volume of Avadel Pharmaceuticals Call Options (NASDAQ:AVDL)

Key Points

• Investors showed significant interest in Avadel Pharmaceuticals, purchasing 7,645 call options, representing a 388% increase from the average volume.
• Analysts have upgraded Avadel Pharmaceuticals' stock rating, with one firm raising its target price from $13.00 to $20.00 and the consensus rating now standing at "Moderate Buy."
• Avadel Pharmaceuticals reported strong quarterly earnings of $0.10 EPS, beating predictions and reflecting 64.1% year-over-year revenue growth.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors acquired 7,645 call options on the stock. This represents an increase of 388% compared to the average volume of 1,566 call options.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AVDL shares. Wall Street Zen upgraded Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 28th. Lifesci Capital upgraded Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday, September 3rd. UBS Group upped their target price on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.86.

Institutional Trading of Avadel Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of AVDL. Two Seas Capital LP lifted its stake in Avadel Pharmaceuticals by 24.4% during the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company's stock valued at $54,472,000 after acquiring an additional 1,208,625 shares during the period. Geode Capital Management LLC increased its position in shares of Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company's stock valued at $19,198,000 after purchasing an additional 979,422 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Avadel Pharmaceuticals by 14.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company's stock valued at $57,416,000 after purchasing an additional 820,467 shares during the last quarter. Invesco Ltd. increased its position in shares of Avadel Pharmaceuticals by 1,407.6% during the 2nd quarter. Invesco Ltd. now owns 748,875 shares of the company's stock valued at $6,628,000 after purchasing an additional 699,201 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at about $4,055,000. 69.19% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Price Performance

AVDL traded up $0.75 during trading on Wednesday, hitting $18.62. 17,145,706 shares of the stock traded hands, compared to its average volume of 1,445,962. The firm has a market capitalization of $1.81 billion, a P/E ratio of -620.63 and a beta of 1.46. The firm has a 50-day moving average of $15.02 and a 200 day moving average of $11.36. Avadel Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $18.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The firm's revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

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.

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