Atria Investments Inc Has $370,000 Stock Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Atria Investments Inc reduced its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,226 shares of the company’s stock after selling 4,952 shares during the quarter. Atria Investments Inc’s holdings in Avadel Pharmaceuticals were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV raised its stake in Avadel Pharmaceuticals by 10.7% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 99,075 shares of the company’s stock worth $1,299,000 after buying an additional 9,600 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of Avadel Pharmaceuticals by 42.5% in the third quarter. Iridian Asset Management LLC CT now owns 167,700 shares of the company’s stock worth $2,199,000 after purchasing an additional 50,000 shares during the last quarter. Diversify Wealth Management LLC raised its stake in shares of Avadel Pharmaceuticals by 8.3% in the third quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock worth $418,000 after purchasing an additional 2,432 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Avadel Pharmaceuticals by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock worth $243,000 after purchasing an additional 7,224 shares during the last quarter. Finally, Claro Advisors LLC raised its stake in shares of Avadel Pharmaceuticals by 379.2% in the third quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock worth $644,000 after purchasing an additional 38,837 shares during the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. HC Wainwright lowered their price objective on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Oppenheimer increased their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $24.43.

Avadel Pharmaceuticals Trading Up 8.5 %

Shares of NASDAQ AVDL opened at $11.67 on Friday. The stock has a fifty day simple moving average of $13.28 and a two-hundred day simple moving average of $14.84. Avadel Pharmaceuticals plc has a 1-year low of $10.41 and a 1-year high of $19.09. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -14.73 and a beta of 1.47.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. During the same period in the prior year, the company earned ($0.41) earnings per share. Avadel Pharmaceuticals’s revenue was up 624.6% compared to the same quarter last year. Analysts forecast that Avadel Pharmaceuticals plc will post -0.48 EPS 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.