Linda Palczuk Purchases 5,000 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) Stock

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk bought 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were acquired at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the transaction, the director now owns 67,900 shares of the company’s stock, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Linda Palczuk also recently made the following trade(s):

• On Friday, December 6th, Linda Palczuk bought 3,000 shares of Avadel Pharmaceuticals stock. The stock was acquired at an average cost of $10.19 per share, with a total value of $30,570.00.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL traded up $0.10 during trading hours on Wednesday, reaching $8.00. The company’s stock had a trading volume of 1,463,664 shares, compared to its average volume of 2,100,552. The stock has a market cap of $770.88 million, a PE ratio of -10.13 and a beta of 1.31. The company’s 50-day moving average is $10.25 and its two-hundred day moving average is $13.17. Avadel Pharmaceuticals plc has a fifty-two week low of $7.39 and a fifty-two week high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The firm had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) EPS. Equities analysts expect that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AVDL. XTX Topco Ltd purchased a new stake in shares of Avadel Pharmaceuticals during the third quarter worth about $642,000. State Street Corp boosted its position in shares of Avadel Pharmaceuticals by 42.5% in the third quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after acquiring an additional 483,787 shares during the last quarter. Barclays PLC grew its stake in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after buying an additional 123,430 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of Avadel Pharmaceuticals by 23.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock worth $6,414,000 after buying an additional 94,239 shares during the last quarter. Finally, Troluce Capital Advisors LLC acquired a new position in Avadel Pharmaceuticals in the second quarter valued at $2,109,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AVDL. Needham & Company LLC reduced their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective (down previously from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. UBS Group cut their target price on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer upped their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Piper Sandler reduced their target price on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.00.

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.