National Asset Management Inc. Takes Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

National Asset Management Inc. acquired a new stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Rating) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $103,000.

Several other institutional investors have also modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Avadel Pharmaceuticals by 8.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 44,758 shares of the company’s stock valued at $362,000 after purchasing an additional 3,472 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter valued at about $26,000. Envestnet Asset Management Inc. raised its position in Avadel Pharmaceuticals by 46.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,508 shares of the company’s stock valued at $158,000 after buying an additional 6,169 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in Avadel Pharmaceuticals by 7.7% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 93,375 shares of the company’s stock valued at $638,000 after buying an additional 6,700 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in Avadel Pharmaceuticals by 38.3% in the 1st quarter. Kestra Advisory Services LLC now owns 46,550 shares of the company’s stock valued at $318,000 after buying an additional 12,900 shares during the last quarter. Institutional investors own 59.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVDL. Craig Hallum dropped their target price on Avadel Pharmaceuticals from $15.50 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. Oppenheimer dropped their target price on Avadel Pharmaceuticals to $13.00 in a research report on Friday, May 27th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Avadel Pharmaceuticals in a research report on Friday, July 1st. SVB Leerink dropped their target price on Avadel Pharmaceuticals from $18.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Finally, Stifel Nicolaus boosted their price target on Avadel Pharmaceuticals from $2.00 to $5.00 in a research report on Tuesday, July 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.17.

Insider Buying and Selling

In other Avadel Pharmaceuticals news, Director Eric J. Ende bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were acquired at an average cost of $2.16 per share, with a total value of $32,400.00. Following the acquisition, the director now owns 114,900 shares of the company’s stock, valued at $248,184. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Avadel Pharmaceuticals news, CFO Thomas S. Mchugh bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were acquired at an average cost of $2.14 per share, with a total value of $107,000.00. Following the acquisition, the chief financial officer now owns 71,500 shares of the company’s stock, valued at $153,010. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric J. Ende purchased 15,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, May 31st. The stock was purchased at an average price of $2.16 per share, with a total value of $32,400.00. Following the completion of the purchase, the director now directly owns 114,900 shares in the company, valued at $248,184. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 75,000 shares of company stock valued at $155,400. 2.29% of the stock is owned by insiders.

Avadel Pharmaceuticals Stock Down 2.7 %

NASDAQ:AVDL opened at $4.60 on Tuesday. The firm has a market capitalization of $271.57 million, a price-to-earnings ratio of -2.99 and a beta of 1.51. Avadel Pharmaceuticals plc has a twelve month low of $1.05 and a twelve month high of $11.59. The stock’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $5.20. The company has a quick ratio of 3.65, a current ratio of 3.65 and a debt-to-equity ratio of 2.11.

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.01). Equities research analysts expect that Avadel Pharmaceuticals plc will post -1.33 earnings per share for the current fiscal year.

About Avadel Pharmaceuticals

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Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.