Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Short Interest Update

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 2,907,619 shares, a decrease of 25.6% from the November 30th total of 3,906,360 shares. Based on an average daily volume of 1,887,390 shares, the short-interest ratio is presently 1.5 days. Currently, 3.1% of the company’s stock are short sold. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 1,887,390 shares, the short-interest ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

AVDL has been the topic of several recent analyst reports. Wall Street Zen lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Monday. Leerink Partnrs lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Wells Fargo & Company boosted their target price on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $18.50 price target on shares of Avadel Pharmaceuticals in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $18.13.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ AVDL opened at $21.54 on Wednesday. Avadel Pharmaceuticals has a 52-week low of $6.38 and a 52-week high of $23.57. The business has a 50-day moving average price of $20.80 and a 200 day moving average price of $15.66.

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

Institutional Trading of Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Bridgefront Capital LLC raised its holdings in shares of Avadel Pharmaceuticals by 3.4% in the third quarter. Bridgefront Capital LLC now owns 28,395 shares of the company’s stock valued at $434,000 after buying an additional 931 shares during the last quarter. Kovack Advisors Inc. lifted its position in Avadel Pharmaceuticals by 13.0% during the 2nd quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock worth $115,000 after acquiring an additional 1,500 shares during the period. Creative Planning grew its stake in shares of Avadel Pharmaceuticals by 10.0% in the 2nd quarter. Creative Planning now owns 19,376 shares of the company’s stock valued at $171,000 after purchasing an additional 1,759 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Avadel Pharmaceuticals by 164.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Avadel Pharmaceuticals by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company’s stock worth $430,000 after purchasing an additional 2,291 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.