Avadel Pharmaceuticals plc (NASDAQ:AVDL) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,798 shares of the company’s stock after acquiring an additional 2,434 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Avadel Pharmaceuticals were worth $2,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Braidwell LP raised its position in Avadel Pharmaceuticals by 16.9% during the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after acquiring an additional 490,300 shares during the last quarter. Wealth Effects LLC increased its stake in shares of Avadel Pharmaceuticals by 4.9% during the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock worth $24,637,000 after purchasing an additional 110,359 shares in the last quarter. State Street Corp raised its position in shares of Avadel Pharmaceuticals by 42.5% during the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after purchasing an additional 483,787 shares during the last quarter. Modera Wealth Management LLC lifted its stake in Avadel Pharmaceuticals by 29.6% in the 4th quarter. Modera Wealth Management LLC now owns 782,567 shares of the company’s stock valued at $8,225,000 after buying an additional 178,601 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Avadel Pharmaceuticals by 23.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock valued at $6,414,000 after buying an additional 94,239 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $8.01 on Friday. The firm has a market capitalization of $774.00 million, a price-to-earnings ratio of -10.14 and a beta of 1.57. The company has a 50 day moving average price of $8.18 and a 200 day moving average price of $10.64. Avadel Pharmaceuticals plc has a one year low of $7.39 and a one year high of $19.09.

Insider Activity

In other news, Director Linda Palczuk purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was acquired at an average cost of $7.93 per share, with a total value of $39,650.00. Following the acquisition, the director now owns 67,900 shares in the company, valued at approximately $538,447. This trade represents a 7.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter J. Thornton acquired 10,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $8.04 per share, for a total transaction of $80,400.00. Following the completion of the acquisition, the director now directly owns 104,055 shares in the company, valued at $836,602.20. The trade was a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVDL shares. Deutsche Bank Aktiengesellschaft started coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target for the company. UBS Group reduced their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Monday, March 3rd. Finally, Piper Sandler cut their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.88.

Avadel Pharmaceuticals 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.