Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk Buys 3,000 Shares

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk acquired 3,000 shares of the stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $10.19 per share, for a total transaction of $30,570.00. Following the purchase, the director now owns 66,400 shares of the company’s stock, valued at $676,616. The trade was a 4.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Avadel Pharmaceuticals Trading Up 0.8 %

Shares of AVDL stock traded up $0.08 on Tuesday, reaching $10.23. The company had a trading volume of 51,618 shares, compared to its average volume of 1,194,560. The company has a 50-day moving average of $12.64 and a 200-day moving average of $14.32. Avadel Pharmaceuticals plc has a 12 month low of $9.41 and a 12 month high of $19.09. The stock has a market cap of $985.76 million, a PE ratio of -12.85 and a beta of 1.32.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping 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 company had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. During the same period last year, the business posted ($0.41) earnings per share. The business’s revenue for the quarter was up 624.6% compared to the same quarter last year. Sell-side analysts anticipate that Avadel Pharmaceuticals plc will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new position in shares of Avadel Pharmaceuticals during the 3rd quarter valued at about $31,000. Amalgamated Bank bought a new position in Avadel Pharmaceuticals in the second quarter valued at approximately $45,000. Quarry LP bought a new position in Avadel Pharmaceuticals in the second quarter valued at approximately $63,000. Advisors Asset Management Inc. increased its position in shares of Avadel Pharmaceuticals by 56.1% during 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 in the last quarter. Finally, Beverly Hills Private Wealth LLC bought a new position in Avadel Pharmaceuticals during the 2nd quarter worth about $146,000. 69.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Avadel Pharmaceuticals

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.