Kennedy Capital Management LLC Boosts Stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Kennedy Capital Management LLC lifted its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 653,147 shares of the company’s stock after purchasing an additional 7,273 shares during the period. Kennedy Capital Management LLC’s holdings in Avadel Pharmaceuticals were worth $11,032,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in shares of Avadel Pharmaceuticals in the first quarter valued at approximately $804,000. Lord Abbett & CO. LLC bought a new stake in Avadel Pharmaceuticals during the first quarter worth approximately $3,264,000. Russell Investments Group Ltd. bought a new stake in Avadel Pharmaceuticals during the first quarter worth approximately $1,943,000. Brandes Investment Partners LP boosted its holdings in Avadel Pharmaceuticals by 5.9% during the fourth quarter. Brandes Investment Partners LP now owns 1,533,614 shares of the company’s stock worth $21,655,000 after buying an additional 84,842 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV bought a new stake in Avadel Pharmaceuticals during the fourth quarter worth approximately $1,503,000. Institutional investors own 69.19% of the company’s stock.

Analyst Upgrades and Downgrades

AVDL has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Wednesday, May 8th. HC Wainwright raised their target price on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Rodman & Renshaw began coverage on shares of Avadel Pharmaceuticals in a report on Wednesday, June 12th. They set a “buy” rating and a $27.00 target price for the company. Finally, Craig Hallum raised their price objective on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $24.57.

Avadel Pharmaceuticals Stock Performance

Shares of Avadel Pharmaceuticals stock traded down $0.08 during midday trading on Tuesday, reaching $16.24. 485,565 shares of the company’s stock traded hands, compared to its average volume of 1,243,960. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -8.73 and a beta of 1.53. The company’s 50 day simple moving average is $15.53 and its 200 day simple moving average is $15.65. Avadel Pharmaceuticals plc has a 52 week low of $9.50 and a 52 week high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $25.89 million. Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The firm’s revenue for the quarter was up 2617.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.48) EPS. As a group, equities research analysts predict that Avadel Pharmaceuticals plc will post -0.58 earnings per share for the current year.

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.