Avadel Pharmaceuticals plc (NASDAQ:AVDL) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC increased its stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,080,219 shares of the company's stock after acquiring an additional 753,332 shares during the quarter. Janus Henderson Group PLC owned approximately 14.61% of Avadel Pharmaceuticals worth $148,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVDL. Barclays PLC increased its holdings in Avadel Pharmaceuticals by 45.8% in the 3rd quarter. Barclays PLC now owns 392,691 shares of the company's stock worth $5,150,000 after acquiring an additional 123,430 shares in the last quarter. Krilogy Financial LLC increased its holdings in Avadel Pharmaceuticals by 53.6% in the 4th quarter. Krilogy Financial LLC now owns 26,362 shares of the company's stock worth $277,000 after acquiring an additional 9,200 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Avadel Pharmaceuticals by 33.1% in the 4th 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 in the last quarter. SG Americas Securities LLC increased its holdings in Avadel Pharmaceuticals by 274.6% in the 4th quarter. SG Americas Securities LLC now owns 46,767 shares of the company's stock worth $492,000 after acquiring an additional 34,281 shares in the last quarter. Finally, Wealth Effects LLC increased its holdings in Avadel Pharmaceuticals by 4.9% in the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company's stock worth $24,637,000 after acquiring an additional 110,359 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock traded up $0.12 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's 50-day moving average price is $8.23 and its two-hundred day moving average price is $9.30. The stock has a market capitalization of $870.63 million, a PE ratio of -11.40 and a beta of 1.40. Avadel Pharmaceuticals plc has a twelve month low of $6.38 and a twelve month high of $17.30.

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

Wall Street Analysts Forecast Growth

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

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.