Avadel Pharmaceuticals PLC. $AVDL Shares Acquired by Kennedy Capital Management LLC

Kennedy Capital Management LLC grew its stake in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 30.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 981,271 shares of the company’s stock after acquiring an additional 227,228 shares during the quarter. Kennedy Capital Management LLC’s holdings in Avadel Pharmaceuticals were worth $8,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after purchasing an additional 979,422 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Avadel Pharmaceuticals by 14.5% in the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock worth $57,416,000 after buying an additional 820,467 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Avadel Pharmaceuticals by 1,407.6% during the second quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock worth $6,628,000 after buying an additional 699,201 shares during the period. Two Seas Capital LP grew its holdings in shares of Avadel Pharmaceuticals by 15.1% during the first quarter. Two Seas Capital LP now owns 4,946,449 shares of the company’s stock valued at $38,731,000 after buying an additional 650,000 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter valued at $4,055,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVDL shares. Jefferies Financial Group lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the stock from $22.00 to $20.00 in a research note on Wednesday, October 22nd. Lifesci Capital cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Piper Sandler downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Leerink Partners reiterated a “market perform” rating and issued a $18.50 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, October 23rd. Finally, Needham & Company LLC downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $18.13.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock opened at $21.35 on Friday. Avadel Pharmaceuticals PLC. has a 52-week low of $6.38 and a 52-week high of $23.57. The business has a 50-day simple moving average of $18.47 and a 200-day simple moving average of $14.06.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). Avadel Pharmaceuticals had a negative net margin of 0.11% and a negative return on equity of 0.33%. The company had revenue of $77.47 million for the quarter, compared to analysts’ expectations of $78.05 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The firm’s revenue was up 55.0% compared to the same quarter last year. As a group, sell-side analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

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.