Y Intercept Hong Kong Ltd Buys 35,316 Shares of Avadel Pharmaceuticals PLC. $AVDL

Y Intercept Hong Kong Ltd boosted its stake in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 36.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 131,166 shares of the company’s stock after acquiring an additional 35,316 shares during the period. Y Intercept Hong Kong Ltd owned 0.14% of Avadel Pharmaceuticals worth $2,003,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $153,000. State of Alaska Department of Revenue purchased a new stake in Avadel Pharmaceuticals in the third quarter worth $83,000. Hennion & Walsh Asset Management Inc. increased its position in Avadel Pharmaceuticals by 69.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 85,544 shares of the company’s stock worth $1,306,000 after buying an additional 35,208 shares during the last quarter. Edge Wealth Management LLC raised its stake in shares of Avadel Pharmaceuticals by 20.0% in the third quarter. Edge Wealth Management LLC now owns 30,000 shares of the company’s stock valued at $458,000 after buying an additional 5,000 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after buying an additional 6,025 shares during the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Stock Performance

AVDL opened at $21.54 on Thursday. Avadel Pharmaceuticals PLC. has a one year low of $6.38 and a one year high of $23.57. The company has a fifty day moving average price of $21.59 and a 200-day moving average price of $17.41.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AVDL. Wall Street Zen lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. HC Wainwright lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Thursday, October 23rd. Needham & Company LLC downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Lifesci Capital cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.86.

About Avadel Pharmaceuticals

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.