Nations Financial Group Inc. IA ADV Purchases Shares of 15,550 Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Nations Financial Group Inc. IA ADV acquired a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,550 shares of the company’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVDL. FMR LLC purchased a new position in Avadel Pharmaceuticals during the 3rd quarter worth approximately $31,000. Advisors Asset Management Inc. increased its stake in shares of Avadel Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock worth $104,000 after acquiring an additional 2,846 shares during the period. Aigen Investment Management LP purchased a new position in shares of Avadel Pharmaceuticals during the third quarter worth $160,000. Creative Planning lifted its position in Avadel Pharmaceuticals by 8.2% during the third quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after purchasing an additional 938 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Avadel Pharmaceuticals during the third quarter valued at $164,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 target price on the stock. UBS Group decreased their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC decreased their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Avadel Pharmaceuticals has an average rating of “Buy” and an average target price of $19.88.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $8.54 on Wednesday. The firm has a fifty day moving average of $9.23 and a 200 day moving average of $12.09. Avadel Pharmaceuticals plc has a one year low of $7.39 and a one year high of $19.09. The firm has a market cap of $822.93 million, a PE ratio of -10.81 and a beta of 1.28.

Insider Buying and Selling

In other news, CEO Gregory J. Divis purchased 9,598 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $9.98 per share, for a total transaction of $95,788.04. Following the completion of the transaction, the chief executive officer now owns 9,598 shares of the company’s stock, valued at $95,788.04. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linda Palczuk acquired 5,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The stock was purchased at an average cost of $7.93 per share, with a total value of $39,650.00. Following the completion of the purchase, the director now owns 67,900 shares in the company, valued at $538,447. The trade was a 7.95 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 55,579 shares of company stock worth $526,363 in the last 90 days. Insiders own 4.80% of the company’s stock.

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.