Linda Palczuk Buys 5,000 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) Stock

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were acquired at an average cost of $7.93 per share, with a total value of $39,650.00. Following the purchase, the director now directly owns 67,900 shares of the company’s stock, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Linda Palczuk also recently made the following trade(s):

• On Friday, December 6th, Linda Palczuk acquired 3,000 shares of Avadel Pharmaceuticals stock. The stock was bought at an average price of $10.19 per share, with a total value of $30,570.00.

Avadel Pharmaceuticals Stock Down 0.7 %

NASDAQ AVDL opened at $7.94 on Friday. Avadel Pharmaceuticals plc has a 52 week low of $7.39 and a 52 week high of $19.09. The business has a 50 day moving average price of $10.17 and a 200-day moving average price of $13.13. The company has a market cap of $765.10 million, a price-to-earnings ratio of -10.05 and a beta of 1.31.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data 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. The firm had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business’s revenue was up 624.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.41) earnings per share. On average, equities research analysts anticipate that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new position in shares of Avadel Pharmaceuticals in the second quarter valued at approximately $45,000. Troluce Capital Advisors LLC purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter valued at $2,109,000. The Manufacturers Life Insurance Company purchased a new position in Avadel Pharmaceuticals during the 2nd quarter worth $590,000. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter worth $63,000. Finally, Brandes Investment Partners LP raised its holdings in shares of Avadel Pharmaceuticals by 1.5% in the second quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after purchasing an additional 21,214 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on AVDL shares. Oppenheimer upped their price target on 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 lowered 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. Piper Sandler cut their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. 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. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $21.00.

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.