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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk bought 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was acquired at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the purchase, the director now owns 67,900 shares in the company, valued at approximately $538,447. This trade represents a 7.95 % increase in their position. The purchase was disclosed in a filing 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 bought 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 Performance

Shares of Avadel Pharmaceuticals stock traded up $0.10 on Wednesday, reaching $8.00. 1,463,664 shares of the company were exchanged, compared to its average volume of 2,100,552. The firm has a market cap of $770.88 million, a price-to-earnings ratio of -10.13 and a beta of 1.31. Avadel Pharmaceuticals plc has a 1-year low of $7.39 and a 1-year high of $19.09. The company’s 50-day moving average is $10.25 and its two-hundred day moving average is $13.17.

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 analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.41) EPS. As a group, sell-side analysts forecast that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on AVDL. HC Wainwright restated a “buy” rating and issued a $21.00 price target (down previously from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. UBS Group reduced their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer upped their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC decreased their price target on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Finally, Piper Sandler cut their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $21.00.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Large investors have recently bought and sold shares of the stock. FMR LLC bought a new position in shares of Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals in the second quarter worth approximately $45,000. Quarry LP bought a new position in Avadel Pharmaceuticals during the 2nd quarter valued at $63,000. Advisors Asset Management Inc. increased its position in shares of Avadel Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter worth $160,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

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.