Avadel Pharmaceuticals plc (NASDAQ:AVDL) CFO Thomas S. Mchugh Acquires 2,300 Shares

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) CFO Thomas S. Mchugh purchased 2,300 shares of Avadel Pharmaceuticals stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $10.44 per share, for a total transaction of $24,012.00. Following the completion of the transaction, the chief financial officer now owns 87,800 shares of the company's stock, valued at approximately $916,632. This represents a 2.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Avadel Pharmaceuticals Trading Up 5.2 %

AVDL stock traded up $0.54 during midday trading on Monday, reaching $10.93. The stock had a trading volume of 1,292,303 shares, compared to its average volume of 1,199,516. Avadel Pharmaceuticals plc has a 52-week low of $9.41 and a 52-week high of $19.09. The company's fifty day simple moving average is $12.43 and its 200 day simple moving average is $14.17. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -13.15 and a beta of 1.32.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. Avadel Pharmaceuticals's quarterly revenue was up 624.6% on a year-over-year basis. Sell-side analysts predict that Avadel Pharmaceuticals plc will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Oppenheimer increased their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, November 12th. Finally, HC Wainwright lowered their price target on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $24.43.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently modified their holdings of AVDL. Krilogy Financial LLC purchased a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $243,000. Bank of New York Mellon Corp acquired a new stake in shares of Avadel Pharmaceuticals in the second quarter valued at $4,575,000. Iridian Asset Management LLC CT grew its stake in Avadel Pharmaceuticals by 63.4% during the 2nd quarter. Iridian Asset Management LLC CT now owns 117,700 shares of the company's stock worth $1,655,000 after purchasing an additional 45,675 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in Avadel Pharmaceuticals during the 2nd quarter worth about $176,000. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its position in Avadel Pharmaceuticals by 2.4% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,475 shares of the company's stock valued at $1,258,000 after purchasing an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company's stock.

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.