106,475 Shares in Avadel Pharmaceuticals plc (NASDAQ:AVDL) Purchased by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 106,475 shares of the company’s stock, valued at approximately $1,503,000. Investors Asset Management of Georgia Inc. GA ADV owned approximately 0.12% of Avadel Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its stake in shares of Avadel Pharmaceuticals by 658.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock worth $26,000 after buying an additional 3,294 shares in the last quarter. Creative Planning lifted its stake in shares of Avadel Pharmaceuticals by 15.2% in the second quarter. Creative Planning now owns 15,787 shares of the company’s stock worth $39,000 after buying an additional 2,083 shares in the last quarter. UBS Group AG lifted its stake in shares of Avadel Pharmaceuticals by 300.6% in the third quarter. UBS Group AG now owns 11,955 shares of the company’s stock worth $60,000 after buying an additional 8,971 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Avadel Pharmaceuticals by 236.6% in the third quarter. Tower Research Capital LLC TRC now owns 14,364 shares of the company’s stock worth $72,000 after buying an additional 10,097 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Avadel Pharmaceuticals by 40.5% in the second quarter. LPL Financial LLC now owns 30,850 shares of the company’s stock worth $75,000 after buying an additional 8,900 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Down 3.5 %

AVDL stock traded down $0.63 during midday trading on Thursday, reaching $17.36. 470,785 shares of the company’s stock traded hands, compared to its average volume of 1,233,773. Avadel Pharmaceuticals plc has a 52-week low of $9.50 and a 52-week high of $18.85. The stock’s 50-day moving average is $15.43 and its 200 day moving average is $13.62.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, March 4th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $19.45 million for the quarter, compared to analyst estimates of $17.41 million. During the same period in the prior year, the company posted ($0.44) earnings per share. On average, research analysts expect that Avadel Pharmaceuticals plc will post -0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AVDL shares. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday, April 9th. HC Wainwright boosted their price objective on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. UBS Group started coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They set a “buy” rating and a $21.00 price objective for the company. Craig Hallum boosted their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Piper Sandler boosted their price objective on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.57.

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.