Avadel Pharmaceuticals plc (NASDAQ:AVDL) Shares Sold by Barclays PLC

Barclays PLC decreased its holdings in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 56.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 170,420 shares of the company’s stock after selling 222,271 shares during the quarter. Barclays PLC’s holdings in Avadel Pharmaceuticals were worth $1,790,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kennedy Capital Management LLC boosted its position in Avadel Pharmaceuticals by 79.7% during the fourth quarter. Kennedy Capital Management LLC now owns 1,056,934 shares of the company’s stock worth $11,108,000 after acquiring an additional 468,757 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Avadel Pharmaceuticals by 1,703.7% in the 4th quarter. Renaissance Technologies LLC now owns 387,800 shares of the company’s stock valued at $4,076,000 after buying an additional 366,300 shares during the period. Legal & General Group Plc grew its holdings in shares of Avadel Pharmaceuticals by 9.0% in the fourth quarter. Legal & General Group Plc now owns 84,739 shares of the company’s stock valued at $891,000 after purchasing an additional 7,019 shares in the last quarter. Invesco Ltd. boosted its holdings in Avadel Pharmaceuticals by 2.3% in the fourth quarter. Invesco Ltd. now owns 52,142 shares of the company’s stock valued at $548,000 after purchasing an additional 1,177 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Avadel Pharmaceuticals by 9.7% during the 4th quarter. Russell Investments Group Ltd. now owns 128,241 shares of the company’s stock worth $1,348,000 after purchasing an additional 11,350 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVDL shares. Piper Sandler decreased their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. UBS Group reduced their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft initiated 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. HC Wainwright restated a “buy” rating and set a $21.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a research note on Wednesday, April 9th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $19.88.

Avadel Pharmaceuticals Stock Up 0.9 %

Shares of AVDL stock opened at $8.69 on Friday. The stock has a 50-day simple moving average of $7.97 and a 200 day simple moving average of $9.65. The stock has a market capitalization of $839.71 million, a P/E ratio of -11.00 and a beta of 1.52. Avadel Pharmaceuticals plc has a fifty-two week low of $6.38 and a fifty-two week high of $19.09.

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.