Janus Henderson Group PLC Boosts Stock Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Janus Henderson Group PLC boosted its stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,326,887 shares of the company’s stock after purchasing an additional 29,570 shares during the quarter. Janus Henderson Group PLC owned about 13.84% of Avadel Pharmaceuticals worth $174,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AVDL. Braidwell LP grew its holdings in shares of Avadel Pharmaceuticals by 16.9% in the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after purchasing an additional 490,300 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Avadel Pharmaceuticals by 1.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock worth $20,894,000 after buying an additional 21,214 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock worth $8,473,000 after buying an additional 2,159 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at about $4,921,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at about $4,575,000. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ:AVDL opened at $9.94 on Wednesday. The firm’s 50 day simple moving average is $12.86 and its 200-day simple moving average is $14.48. The firm has a market cap of $957.82 million, a PE ratio of -12.58 and a beta of 1.32. Avadel Pharmaceuticals plc has a one year low of $9.41 and a one year high of $19.09.

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

Analyst Upgrades and Downgrades

AVDL has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. HC Wainwright decreased their price target on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, Oppenheimer raised their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.43.

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.