Barclays PLC Buys 123,430 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Barclays PLC increased its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 45.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 392,691 shares of the company's stock after purchasing an additional 123,430 shares during the period. Barclays PLC owned approximately 0.41% of Avadel Pharmaceuticals worth $5,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC bought a new position in Avadel Pharmaceuticals in the third quarter worth approximately $31,000. Amalgamated Bank purchased a new position in Avadel Pharmaceuticals in the 2nd quarter worth approximately $45,000. Quarry LP purchased a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at approximately $63,000. Advisors Asset Management Inc. raised its position in shares of Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company's stock valued at $104,000 after buying an additional 2,846 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC purchased a new position in shares of Avadel Pharmaceuticals in the second quarter worth $146,000. 69.19% of the stock is owned by institutional investors.

Avadel Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:AVDL traded up $0.20 during trading on Friday, reaching $10.31. The company's stock had a trading volume of 1,168,878 shares, compared to its average volume of 1,197,070. The stock has a market capitalization of $993.49 million, a PE ratio of -13.05 and a beta of 1.32. Avadel Pharmaceuticals plc has a 12 month low of $9.41 and a 12 month high of $19.09. The firm's 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $14.01.

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

Insiders Place Their Bets

In other Avadel Pharmaceuticals news, Director Geoffrey Michael Glass purchased 20,279 shares of Avadel Pharmaceuticals stock in a transaction dated Tuesday, December 10th. The shares were purchased at an average cost of $9.84 per share, for a total transaction of $199,545.36. Following the completion of the acquisition, the director now owns 75,904 shares in the company, valued at $746,895.36. This represents a 36.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda Palczuk purchased 3,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $10.19 per share, with a total value of $30,570.00. Following the completion of the purchase, the director now directly owns 66,400 shares in the company, valued at $676,616. The trade was a 4.73 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 40,579 shares of company stock valued at $406,313 over the last three months. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on AVDL. Needham & Company LLC reiterated a "buy" rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. HC Wainwright decreased their target price on Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Finally, Oppenheimer raised their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avadel Pharmaceuticals presently has an average rating of "Buy" and an average price target of $24.43.

Avadel Pharmaceuticals Company Profile

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.