Vanguard Group Inc. Buys 90,147 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Vanguard Group Inc. raised its stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,953,247 shares of the company's stock after acquiring an additional 90,147 shares during the period. Vanguard Group Inc. owned 4.10% of Avadel Pharmaceuticals worth $41,549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AVDL. Wealth Effects LLC grew its position in Avadel Pharmaceuticals by 4.9% in the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company's stock valued at $24,637,000 after buying an additional 110,359 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Avadel Pharmaceuticals by 274.6% during the 4th quarter. SG Americas Securities LLC now owns 46,767 shares of the company's stock valued at $492,000 after purchasing an additional 34,281 shares during the period. State Street Corp lifted its holdings in shares of Avadel Pharmaceuticals by 42.5% in the third 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 during the period. Barclays PLC boosted its stake in Avadel Pharmaceuticals by 45.8% during the third quarter. Barclays PLC now owns 392,691 shares of the company's stock valued at $5,150,000 after buying an additional 123,430 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Avadel Pharmaceuticals by 23.9% during the third quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company's stock worth $6,414,000 after acquiring an additional 94,239 shares during the period. 69.19% of the stock is currently owned by institutional investors.

Insider Transactions at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, Director Linda Palczuk bought 5,000 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, January 21st. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the acquisition, the director now owns 67,900 shares in the company, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.80% of the company's stock.

Avadel Pharmaceuticals Stock Down 2.9 %

Shares of Avadel Pharmaceuticals stock traded down $0.24 during trading on Thursday, reaching $7.92. 131,477 shares of the company were exchanged, compared to its average volume of 1,218,221. The business has a 50-day moving average price of $8.01 and a 200-day moving average price of $10.03. Avadel Pharmaceuticals plc has a twelve month low of $6.38 and a twelve month high of $19.09. The firm has a market capitalization of $764.82 million, a price-to-earnings ratio of -10.01 and a beta of 1.52.

Wall Street Analysts Forecast Growth

AVDL has been the subject of a number of research reports. UBS Group reduced their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating for the company in a report on Monday, January 13th. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a research note on Wednesday, April 9th. HC Wainwright restated a "buy" rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Piper Sandler lowered their target price on Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $12.00 price target for the company. Eight investment 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 $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.