Intech Investment Management LLC Makes New $214,000 Investment in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Intech Investment Management LLC bought a new stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,340 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also modified their holdings of AVDL. Cetera Investment Advisers purchased a new stake in Avadel Pharmaceuticals in the 1st quarter worth about $1,925,000. Bank of New York Mellon Corp acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter worth approximately $4,575,000. Troluce Capital Advisors LLC purchased a new position in Avadel Pharmaceuticals during the second quarter valued at approximately $2,109,000. Iridian Asset Management LLC CT increased its stake in Avadel Pharmaceuticals by 42.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 167,700 shares of the company’s stock valued at $2,199,000 after buying an additional 50,000 shares during the period. Finally, Nantahala Capital Management LLC purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter worth approximately $4,921,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AVDL shares. HC Wainwright lowered their price target on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Oppenheimer boosted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research note 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 note on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $24.43.

Avadel Pharmaceuticals Trading Up 0.5 %

AVDL stock opened at $10.00 on Friday. The firm has a market cap of $963.60 million, a PE ratio of -12.66 and a beta of 1.32. Avadel Pharmaceuticals plc has a 1 year low of $9.41 and a 1 year high of $19.09. The company has a fifty day simple moving average of $12.70 and a 200 day simple moving average of $14.38.

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

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.