200,000 Shares in Avadel Pharmaceuticals plc (NASDAQ:AVDL) Purchased by National Bank of Canada FI

National Bank of Canada FI purchased a new position in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 200,000 shares of the company's stock, valued at approximately $2,102,000. National Bank of Canada FI owned about 0.21% of Avadel Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AVDL. Brandes Investment Partners LP increased its stake in Avadel Pharmaceuticals by 58.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company's stock valued at $22,840,000 after purchasing an additional 798,415 shares in the last quarter. State Street Corp increased its position in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company's stock valued at $21,290,000 after buying an additional 483,787 shares in the last quarter. Modera Wealth Management LLC raised its stake in Avadel Pharmaceuticals by 29.6% during the 4th quarter. Modera Wealth Management LLC now owns 782,567 shares of the company's stock worth $8,225,000 after buying an additional 178,601 shares during the period. Barclays PLC grew its stake in Avadel Pharmaceuticals by 45.8% in the third quarter. Barclays PLC now owns 392,691 shares of the company's stock valued at $5,150,000 after acquiring an additional 123,430 shares during the period. Finally, Wealth Effects LLC lifted its holdings in shares of Avadel Pharmaceuticals by 4.9% during the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company's stock valued at $24,637,000 after purchasing an additional 110,359 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Trading Up 0.8 %

Shares of AVDL traded up $0.06 during mid-day trading on Monday, reaching $7.74. The company's stock had a trading volume of 136,853 shares, compared to its average volume of 1,230,402. The stock has a market cap of $747.81 million, a P/E ratio of -9.80 and a beta of 1.52. Avadel Pharmaceuticals plc has a 1-year low of $6.38 and a 1-year high of $19.09. The business has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $10.09.

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, Director Linda Palczuk acquired 5,000 shares of Avadel Pharmaceuticals stock in a transaction dated Tuesday, January 21st. The stock was bought at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the acquisition, the director now directly owns 67,900 shares in the company, 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 accessible through the SEC website. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AVDL shares. Needham & Company LLC reissued a "buy" rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 price objective on the stock. Piper Sandler decreased their target price on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, January 10th. UBS Group cut their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $19.88.

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.