Deutsche Bank AG Raises Stock Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Deutsche Bank AG raised its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 508,696 shares of the company’s stock after purchasing an additional 32,227 shares during the period. Deutsche Bank AG owned about 0.53% of Avadel Pharmaceuticals worth $5,346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Effects LLC lifted its position 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 valued at $24,637,000 after buying an additional 110,359 shares in the last quarter. SG Americas Securities LLC raised its position in Avadel Pharmaceuticals by 274.6% during the fourth quarter. SG Americas Securities LLC now owns 46,767 shares of the company’s stock worth $492,000 after acquiring an additional 34,281 shares during the period. Barclays PLC lifted its holdings in Avadel Pharmaceuticals by 45.8% during the third quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after purchasing an additional 123,430 shares in the last quarter. Knott David M Jr purchased a new position in Avadel Pharmaceuticals during the fourth quarter valued at $3,646,000. Finally, Tri Locum Partners LP grew its position in shares of Avadel Pharmaceuticals by 16.7% in the fourth quarter. Tri Locum Partners LP now owns 1,937,984 shares of the company’s stock valued at $20,368,000 after purchasing an additional 277,029 shares during the period. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Trading Up 1.3%

AVDL stock opened at $9.01 on Monday. The firm has a 50-day moving average of $8.23 and a two-hundred day moving average of $9.30. Avadel Pharmaceuticals plc has a 12 month low of $6.38 and a 12 month high of $17.30. The company has a market cap of $870.63 million, a price-to-earnings ratio of -11.40 and a beta of 1.40.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business had revenue of $52.51 million during the quarter, compared to analyst estimates of $50.57 million. During the same period in the prior year, the business earned ($0.30) earnings per share. The business’s revenue was up 93.2% compared to the same quarter last year. As a group, equities analysts forecast that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AVDL shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a report on Thursday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $19.43.

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.