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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk acquired 5,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the purchase, the director now directly owns 67,900 shares of the company’s stock, valued at $538,447. The trade was a 7.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, December 6th, Linda Palczuk bought 3,000 shares of Avadel Pharmaceuticals stock. The shares were acquired at an average cost of $10.19 per share, for a total transaction of $30,570.00.

Avadel Pharmaceuticals Trading Up 1.3 %

AVDL opened at $8.00 on Thursday. The business’s 50 day moving average is $10.17 and its 200-day moving average is $13.13. The stock has a market cap of $770.88 million, a PE ratio of -10.13 and a beta of 1.31. Avadel Pharmaceuticals plc has a twelve month low of $7.39 and a twelve month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. During the same quarter in the previous year, the business earned ($0.41) EPS. The firm’s revenue for the quarter was up 624.6% on a year-over-year basis. As a group, analysts forecast that Avadel Pharmaceuticals plc will post -0.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVDL. Needham & Company LLC lowered their price objective on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, January 9th. UBS Group lowered their target price on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday, January 13th. Oppenheimer increased their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler reduced their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and set a $21.00 price objective (down from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday, January 10th. Seven investment 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 target price of $21.00.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of AVDL. FMR LLC acquired a new position in Avadel Pharmaceuticals during the 3rd quarter valued at about $31,000. Amalgamated Bank acquired a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter worth approximately $45,000. Quarry LP bought a new position in shares of Avadel Pharmaceuticals in the second quarter valued at approximately $63,000. Advisors Asset Management Inc. increased its stake in shares of Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after acquiring an additional 2,846 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Avadel Pharmaceuticals during the third quarter worth approximately $160,000. 69.19% of the stock is currently owned by institutional investors.

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.