Avadel Pharmaceuticals plc (NASDAQ:AVDL) Stake Lifted by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in Avadel Pharmaceuticals by 6.8% in the 4th quarter. Deutsche Bank AG now owns 508,696 shares of the company's stock valued at $5,346,000 after purchasing an additional 32,227 shares during the last quarter. Braidwell LP lifted its stake in 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 acquiring an additional 716,787 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Avadel Pharmaceuticals during the 4th quarter valued at about $245,000. Northern Trust Corp increased its stake in Avadel Pharmaceuticals by 11.3% during the fourth 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 period. Finally, Tri Locum Partners LP lifted its position in shares of Avadel Pharmaceuticals by 16.7% during the fourth quarter. Tri Locum Partners LP now owns 1,937,984 shares of the company's stock worth $20,368,000 after purchasing an additional 277,029 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL traded up $0.12 during trading on Friday, reaching $9.01. 1,067,671 shares of the company's stock were exchanged, compared to its average volume of 1,227,079. The company has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $9.39. Avadel Pharmaceuticals plc has a 1 year low of $6.38 and a 1 year high of $17.30. The stock has a market cap of $870.63 million, a P/E ratio of -11.40 and a beta of 1.40.

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

Analyst Ratings Changes

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

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.