Avadel Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:AVDL)

Avadel Pharmaceuticals PLC (NASDAQ:AVDL) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 2,323 put options on the company. This represents an increase of 2,031% compared to the typical volume of 109 put options.

AVDL has been the subject of several research reports. Zacks Investment Research downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. BidaskClub upgraded Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. ValuEngine downgraded Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, Laidlaw raised their target price on Avadel Pharmaceuticals from $3.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Avadel Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.83.

In other news, Director Eric J. Ende bought 10,000 shares of Avadel Pharmaceuticals stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $5.32 per share, for a total transaction of $53,200.00. Also, Director Geoffrey Michael Glass bought 20,000 shares of Avadel Pharmaceuticals stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $5.30 per share, with a total value of $106,000.00. Over the last quarter, insiders have acquired 59,000 shares of company stock valued at $317,880. Company insiders own 15.23% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in Avadel Pharmaceuticals by 1,333.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,300 shares of the company’s stock valued at $32,000 after acquiring an additional 4,000 shares in the last quarter. Millennium Management LLC bought a new position in Avadel Pharmaceuticals in the 3rd quarter valued at about $494,000. Investors Asset Management of Georgia Inc. GA ADV lifted its position in Avadel Pharmaceuticals by 9.1% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 36,100 shares of the company’s stock valued at $150,000 after acquiring an additional 3,000 shares in the last quarter. Susquehanna International Group LLP lifted its position in Avadel Pharmaceuticals by 263.6% in the 2nd quarter. Susquehanna International Group LLP now owns 98,389 shares of the company’s stock valued at $284,000 after acquiring an additional 71,328 shares in the last quarter. Finally, Morgan Stanley lifted its position in Avadel Pharmaceuticals by 0.7% in the 2nd quarter. Morgan Stanley now owns 717,901 shares of the company’s stock valued at $2,075,000 after acquiring an additional 5,243 shares in the last quarter. Institutional investors own 51.72% of the company’s stock.

Shares of AVDL opened at $8.25 on Wednesday. The stock has a 50-day moving average of $6.97 and a 200-day moving average of $4.28. The company has a market cap of $285.74 million, a PE ratio of -3.25 and a beta of 1.87. Avadel Pharmaceuticals has a one year low of $1.03 and a one year high of $8.49.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.24) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. The company had revenue of $14.23 million during the quarter. Avadel Pharmaceuticals had a negative return on equity of 608.01% and a negative net margin of 136.46%. Equities research analysts predict that Avadel Pharmaceuticals will post -1.06 earnings per share for the current fiscal year.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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