Avadel Pharmaceuticals PLC. $AVDL Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,606,282 shares of the company’s stock after acquiring an additional 42,023 shares during the quarter. Vanguard Group Inc. owned about 5.77% of Avadel Pharmaceuticals worth $85,608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after buying an additional 2,055 shares during the period. Federated Hermes Inc. raised its stake in shares of Avadel Pharmaceuticals by 195.4% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock valued at $53,000 after purchasing an additional 2,296 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Avadel Pharmaceuticals during the second quarter worth $65,000. Tower Research Capital LLC TRC boosted its stake in shares of Avadel Pharmaceuticals by 217.5% in 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. Finally, State of Alaska Department of Revenue acquired a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at $83,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ:AVDL opened at $21.39 on Friday. The stock has a fifty day moving average of $21.49 and a 200-day moving average of $19.17. Avadel Pharmaceuticals PLC. has a one year low of $6.38 and a one year high of $23.57.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Monday, December 29th. Zacks Research raised Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company raised their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Avadel Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $20.00.

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.