Avadel Pharmaceuticals PLC. $AVDL Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its holdings in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 69.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,544 shares of the company’s stock after buying an additional 35,208 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.09% of Avadel Pharmaceuticals worth $1,306,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVDL. Edge Wealth Management LLC raised its stake in Avadel Pharmaceuticals by 20.0% during the 3rd quarter. Edge Wealth Management LLC now owns 30,000 shares of the company’s stock valued at $458,000 after acquiring an additional 5,000 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Avadel Pharmaceuticals by 217.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after purchasing an additional 6,025 shares during the period. Krensavage Asset Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 0.9% during the second quarter. Krensavage Asset Management LLC now owns 958,877 shares of the company’s stock valued at $8,486,000 after purchasing an additional 8,877 shares during the period. MML Investors Services LLC raised its stake in shares of Avadel Pharmaceuticals by 6.7% during the second quarter. MML Investors Services LLC now owns 207,378 shares of the company’s stock valued at $1,835,000 after purchasing an additional 13,072 shares in the last quarter. Finally, Man Group plc lifted its holdings in Avadel Pharmaceuticals by 101.3% in the second quarter. Man Group plc now owns 57,931 shares of the company’s stock worth $513,000 after purchasing an additional 29,149 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVDL shares. Leerink Partnrs cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Wells Fargo & Company raised their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Zacks Research upgraded Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday, December 29th. Finally, Needham & Company LLC downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Hold” and an average price target of $18.86.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $21.50 on Friday. The stock’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $16.24. Avadel Pharmaceuticals PLC. has a 52-week low of $6.38 and a 52-week high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Tuesday, November 4th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). The company had revenue of $77.47 million for the quarter, compared to analysts’ expectations of $78.05 million. Avadel Pharmaceuticals had a negative net margin of 0.11% and a negative return on equity of 0.33%. The company’s revenue for the quarter was up 55.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. Analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

Avadel Pharmaceuticals Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.