SG Americas Securities LLC Acquires 34,281 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

SG Americas Securities LLC boosted its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 274.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,767 shares of the company's stock after acquiring an additional 34,281 shares during the period. SG Americas Securities LLC's holdings in Avadel Pharmaceuticals were worth $492,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AVDL. The Manufacturers Life Insurance Company bought a new position in Avadel Pharmaceuticals in the second quarter worth about $590,000. Creative Planning raised its holdings in shares of Avadel Pharmaceuticals by 8.2% during the third quarter. Creative Planning now owns 12,381 shares of the company's stock valued at $162,000 after buying an additional 938 shares during the last quarter. Edge Wealth Management LLC bought a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at approximately $262,000. Claro Advisors LLC raised its holdings in shares of Avadel Pharmaceuticals by 379.2% during the third quarter. Claro Advisors LLC now owns 49,080 shares of the company's stock valued at $644,000 after buying an additional 38,837 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Avadel Pharmaceuticals by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company's stock valued at $243,000 after buying an additional 7,224 shares during the last quarter. Institutional investors own 69.19% of the company's stock.

Insider Activity at Avadel Pharmaceuticals

In other news, Director Geoffrey Michael Glass bought 20,279 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was purchased at an average price of $9.84 per share, with a total value of $199,545.36. Following the transaction, the director now directly owns 75,904 shares in the company, valued at approximately $746,895.36. The trade was a 36.46 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gregory J. Divis bought 9,598 shares of the business's stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $9.98 per share, with a total value of $95,788.04. Following the transaction, the chief executive officer now owns 9,598 shares in the company, valued at approximately $95,788.04. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 55,579 shares of company stock valued at $526,363. Insiders own 4.80% of the company's stock.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock traded up $0.21 on Tuesday, hitting $8.18. The company's stock had a trading volume of 1,081,485 shares, compared to its average volume of 1,744,526. Avadel Pharmaceuticals plc has a fifty-two week low of $7.39 and a fifty-two week high of $19.09. The firm's fifty day moving average price is $9.63 and its 200-day moving average price is $12.64. The stock has a market capitalization of $788.22 million, a price-to-earnings ratio of -10.35 and a beta of 1.28.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released 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 net margin of 52.53% and a negative return on equity of 93.34%. The business had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. During the same quarter in the previous year, the business earned ($0.41) EPS. Avadel Pharmaceuticals's quarterly revenue was up 624.6% compared to the same quarter last year. Analysts predict that Avadel Pharmaceuticals plc will post -0.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AVDL shares. UBS Group cut their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Needham & Company LLC decreased their price target on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, January 9th. HC Wainwright restated a "buy" rating and issued a $21.00 price target (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Piper Sandler lowered their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Finally, Oppenheimer lifted their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Avadel Pharmaceuticals has an average rating of "Buy" and an average target price of $21.00.

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.