Investors Asset Management of Georgia Inc. GA ADV Takes Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 106,475 shares of the company's stock, valued at approximately $1,503,000. Investors Asset Management of Georgia Inc. GA ADV owned approximately 0.12% of Avadel Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AVDL. RTW Investments LP grew its stake in shares of Avadel Pharmaceuticals by 4.8% in the 3rd quarter. RTW Investments LP now owns 7,136,415 shares of the company's stock valued at $73,505,000 after buying an additional 325,774 shares in the last quarter. Gendell Jeffrey L grew its position in Avadel Pharmaceuticals by 4.1% in the third quarter. Gendell Jeffrey L now owns 5,615,350 shares of the company's stock worth $57,838,000 after acquiring an additional 219,290 shares in the last quarter. Vivo Capital LLC increased its stake in shares of Avadel Pharmaceuticals by 7.0% during the 3rd quarter. Vivo Capital LLC now owns 4,096,428 shares of the company's stock worth $42,193,000 after purchasing an additional 266,851 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Avadel Pharmaceuticals by 14.5% during the 1st quarter. Polar Capital Holdings Plc now owns 3,199,152 shares of the company's stock valued at $21,850,000 after purchasing an additional 404,479 shares in the last quarter. Finally, Wealth Effects LLC lifted its stake in shares of Avadel Pharmaceuticals by 0.3% in the 4th quarter. Wealth Effects LLC now owns 2,416,326 shares of the company's stock valued at $34,119,000 after purchasing an additional 7,037 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL traded down $0.61 during trading hours on Thursday, reaching $17.38. 1,108,007 shares of the company traded hands, compared to its average volume of 1,242,509. Avadel Pharmaceuticals plc has a 1-year low of $9.50 and a 1-year high of $18.85. The stock has a market cap of $1.57 billion, a P/E ratio of -8.52 and a beta of 1.60. The stock's fifty day moving average is $15.49 and its 200 day moving average is $13.64.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $19.45 million for the quarter, compared to analysts' expectations of $17.41 million. During the same period in the previous year, the business earned ($0.44) earnings per share. On average, equities research analysts predict that Avadel Pharmaceuticals plc will post -0.46 EPS for the current year.

Analyst Upgrades and Downgrades

AVDL has been the subject of a number of recent research reports. Craig Hallum upped their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. UBS Group initiated coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a "buy" rating and a $21.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday, April 9th. HC Wainwright upped their price target on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, March 5th. Finally, Piper Sandler upped their price target on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $22.57.

Avadel Pharmaceuticals 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.