Avadel Pharmaceuticals plc (NASDAQ:AVDL) Shares Sold by J. Goldman & Co LP

J. Goldman & Co LP reduced its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 70.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,347 shares of the company's stock after selling 96,933 shares during the period. J. Goldman & Co LP's holdings in Avadel Pharmaceuticals were worth $424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in shares of Avadel Pharmaceuticals by 5.7% during the 4th quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock worth $148,117,000 after purchasing an additional 753,332 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Avadel Pharmaceuticals by 6.8% during the 4th quarter. Deutsche Bank AG now owns 508,696 shares of the company's stock worth $5,346,000 after purchasing an additional 32,227 shares during the last quarter. Braidwell LP boosted its holdings in shares of Avadel Pharmaceuticals by 21.2% during the 4th quarter. Braidwell LP now owns 4,105,726 shares of the company's stock worth $43,151,000 after purchasing an additional 716,787 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $245,000. Finally, Northern Trust Corp boosted its holdings in shares of Avadel Pharmaceuticals by 11.3% during the 4th quarter. Northern Trust Corp now owns 658,582 shares of the company's stock worth $6,922,000 after purchasing an additional 66,948 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVDL shares. Deutsche Bank Aktiengesellschaft started coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $12.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $19.43.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock traded up $0.12 during trading on Friday, hitting $9.01. 1,067,671 shares of the stock traded hands, compared to its average volume of 1,232,198. The firm has a market capitalization of $870.63 million, a P/E ratio of -11.40 and a beta of 1.40. The firm's fifty day moving average price is $8.23 and its 200-day moving average price is $9.34. Avadel Pharmaceuticals plc has a 52-week low of $6.38 and a 52-week high of $17.30.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.02. The company had revenue of $52.51 million for the quarter, compared to analyst estimates of $50.57 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm's quarterly revenue was up 93.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.30) earnings per share. As a group, equities research analysts expect that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current 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.