Intech Investment Management LLC Acquires 42,418 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Intech Investment Management LLC raised its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 259.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,758 shares of the company’s stock after acquiring an additional 42,418 shares during the quarter. Intech Investment Management LLC’s holdings in Avadel Pharmaceuticals were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Iridian Asset Management LLC CT grew its holdings in shares of Avadel Pharmaceuticals by 1.1% in the fourth quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,886 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Avadel Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock worth $215,000 after acquiring an additional 1,916 shares during the period. FMR LLC bought a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at approximately $31,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Avadel Pharmaceuticals by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,798 shares of the company’s stock valued at $2,342,000 after purchasing an additional 2,434 shares during the period. Finally, Rhumbline Advisers grew its stake in Avadel Pharmaceuticals by 2.0% in the fourth quarter. Rhumbline Advisers now owns 124,137 shares of the company’s stock worth $1,305,000 after purchasing an additional 2,492 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL opened at $8.53 on Tuesday. The company has a 50 day moving average price of $8.17 and a 200-day moving average price of $10.76. Avadel Pharmaceuticals plc has a 1-year low of $7.39 and a 1-year high of $19.09. The firm has a market cap of $824.25 million, a price-to-earnings ratio of -10.80 and a beta of 1.57.

Analyst Upgrades and Downgrades

AVDL has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target for the company. Piper Sandler decreased their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Finally, UBS Group dropped their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avadel Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $19.88.

Insider Activity at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, Director Linda Palczuk purchased 5,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average price of $7.93 per share, with a total value of $39,650.00. Following the acquisition, the director now owns 67,900 shares of the company’s stock, valued at $538,447. This trade represents a 7.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter J. Thornton purchased 10,000 shares of the stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $8.04 per share, for a total transaction of $80,400.00. Following the transaction, the director now directly owns 104,055 shares of the company’s stock, valued at $836,602.20. This represents a 10.63 % increase in their position. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

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.