Avadel Pharmaceuticals plc (NASDAQ:AVDL) Short Interest Update

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 10,970,000 shares, a decline of 5.9% from the September 15th total of 11,660,000 shares. Based on an average daily volume of 927,500 shares, the short-interest ratio is presently 11.8 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVDL. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals during the 2nd quarter worth about $45,000. Chilton Capital Management LLC acquired a new stake in Avadel Pharmaceuticals during the first quarter worth about $51,000. Quarry LP purchased a new position in Avadel Pharmaceuticals during the second quarter valued at approximately $63,000. BNP Paribas Financial Markets lifted its holdings in Avadel Pharmaceuticals by 60.5% in the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company's stock valued at $75,000 after acquiring an additional 1,685 shares during the period. Finally, Beverly Hills Private Wealth LLC purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter worth approximately $146,000. Hedge funds and other institutional investors own 69.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVDL. Needham & Company LLC restated a "buy" rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Wednesday, September 4th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of Avadel Pharmaceuticals in a report on Wednesday, August 28th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $24.57.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock traded up $0.04 during trading hours on Wednesday, hitting $13.24. 461,134 shares of the stock traded hands, compared to its average volume of 1,159,085. The firm's 50 day moving average price is $14.33 and its 200-day moving average price is $15.53. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -7.13 and a beta of 1.50. Avadel Pharmaceuticals has a 1 year low of $9.50 and a 1 year high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The firm had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.47 million. During the same quarter in the prior year, the firm earned ($0.70) earnings per share. Avadel Pharmaceuticals's revenue for the quarter was up 2666.7% on a year-over-year basis. Research analysts forecast that Avadel Pharmaceuticals will post -0.5 earnings per share for the current fiscal year.

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.