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 the business’s stock in a transaction on 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 transaction, the director now owns 67,900 shares of the company’s stock, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The acquisition 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 shares were acquired at an average price of $10.19 per share, for a total transaction of $30,570.00.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL opened at $7.94 on Friday. The business’s fifty day moving average is $10.17 and its 200 day moving average is $13.13. The firm has a market cap of $765.10 million, a price-to-earnings ratio of -10.05 and a beta of 1.31. Avadel Pharmaceuticals plc has a 52-week low of $7.39 and a 52-week high of $19.09.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday, January 13th. Needham & Company LLC lowered their price target on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. 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 report on Friday, January 10th. Oppenheimer raised their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 price target (down previously 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, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Braidwell LP raised its position in shares of Avadel Pharmaceuticals by 16.9% in the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after buying an additional 490,300 shares in the last quarter. State Street Corp raised its holdings in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after acquiring an additional 483,787 shares in the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at about $4,921,000. Troluce Capital Advisors LLC bought a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter valued at about $2,109,000. Finally, Barclays PLC grew its holdings in shares of Avadel Pharmaceuticals by 45.8% during the third quarter. Barclays PLC now owns 392,691 shares of the company’s stock worth $5,150,000 after purchasing an additional 123,430 shares in the last quarter. 69.19% of the stock is owned by institutional investors.

About Avadel Pharmaceuticals

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.