J. Goldman & Co LP Has $424,000 Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

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

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC increased its holdings in Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company's stock worth $5,150,000 after purchasing an additional 123,430 shares in the last quarter. Krilogy Financial LLC increased its holdings in shares of Avadel Pharmaceuticals by 53.6% in the fourth quarter. Krilogy Financial LLC now owns 26,362 shares of the company's stock valued at $277,000 after purchasing an additional 9,200 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Avadel Pharmaceuticals by 33.1% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,481 shares of the company's stock worth $373,000 after acquiring an additional 8,815 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Avadel Pharmaceuticals by 274.6% in the fourth quarter. SG Americas Securities LLC now owns 46,767 shares of the company's stock valued at $492,000 after purchasing an additional 34,281 shares during the last quarter. Finally, Wealth Effects LLC grew its position in shares of Avadel Pharmaceuticals by 4.9% in the fourth quarter. Wealth Effects LLC now owns 2,344,130 shares of the company's stock valued at $24,637,000 after purchasing an additional 110,359 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $19.43.

Avadel Pharmaceuticals Price Performance

AVDL traded up $0.36 during trading on Thursday, hitting $8.89. 912,428 shares of the stock traded hands, compared to its average volume of 1,227,275. Avadel Pharmaceuticals plc has a twelve month low of $6.38 and a twelve month high of $17.30. The company has a market cap of $859.03 million, a price-to-earnings ratio of -11.25 and a beta of 1.40. The business has a 50 day moving average price of $8.18 and a 200 day moving average price of $9.42.

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