Investors Asset Management of Georgia Inc. GA ADV Takes Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 106,475 shares of the company’s stock, valued at approximately $1,503,000.

A number of other institutional investors have also modified their holdings of the company. Rockefeller Capital Management L.P. boosted its stake in Avadel Pharmaceuticals by 658.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock worth $26,000 after purchasing an additional 3,294 shares in the last quarter. Creative Planning boosted its stake in Avadel Pharmaceuticals by 15.2% in the 2nd quarter. Creative Planning now owns 15,787 shares of the company’s stock worth $39,000 after purchasing an additional 2,083 shares in the last quarter. UBS Group AG boosted its stake in Avadel Pharmaceuticals by 300.6% in the 3rd quarter. UBS Group AG now owns 11,955 shares of the company’s stock worth $60,000 after purchasing an additional 8,971 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Avadel Pharmaceuticals by 236.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 14,364 shares of the company’s stock worth $72,000 after purchasing an additional 10,097 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Avadel Pharmaceuticals by 40.5% in the 2nd quarter. LPL Financial LLC now owns 30,850 shares of the company’s stock worth $75,000 after purchasing an additional 8,900 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL traded down $0.63 on Thursday, hitting $17.36. The company had a trading volume of 470,785 shares, compared to its average volume of 1,233,773. Avadel Pharmaceuticals plc has a 12-month low of $9.50 and a 12-month high of $18.85. The company’s fifty day moving average price is $15.43 and its 200-day moving average price is $13.62.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, March 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $19.45 million for the quarter, compared to the consensus estimate of $17.41 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. As a group, research analysts predict that Avadel Pharmaceuticals plc will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on AVDL shares. Oppenheimer lifted their price objective on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, April 9th. Craig Hallum lifted their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. UBS Group assumed coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They set a “buy” rating and a $21.00 target price for the company. Finally, HC Wainwright boosted their price target on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.57.

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.