Investors Asset Management of Georgia Inc. GA ADV Boosts Stock Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,075 shares of the company’s stock after buying an additional 9,600 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV owned approximately 0.10% of Avadel Pharmaceuticals worth $1,299,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new position in Avadel Pharmaceuticals in the first quarter valued at $804,000. Lord Abbett & CO. LLC acquired a new position in Avadel Pharmaceuticals in the first quarter valued at $3,264,000. Cetera Investment Advisers acquired a new position in Avadel Pharmaceuticals in the first quarter valued at $1,925,000. Bank of New York Mellon Corp acquired a new position in Avadel Pharmaceuticals in the second quarter valued at $4,575,000. Finally, Russell Investments Group Ltd. acquired a new position in Avadel Pharmaceuticals in the first quarter valued at $1,943,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Down 2.7 %

NASDAQ AVDL traded down $0.42 during trading hours on Friday, hitting $15.05. 1,570,037 shares of the stock were exchanged, compared to its average volume of 1,151,179. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -12.86 and a beta of 1.50. Avadel Pharmaceuticals plc has a 12-month low of $9.98 and a 12-month high of $19.09. The stock has a 50-day moving average of $13.69 and a 200 day moving average of $15.28.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.47 million. Avadel Pharmaceuticals had a negative net margin of 111.64% and a negative return on equity of 122.64%. The firm’s revenue for the quarter was up 2666.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.70) earnings per share. On average, equities research analysts expect that Avadel Pharmaceuticals plc will post -0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

AVDL has been the subject of several research analyst reports. Oppenheimer upped their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Avadel Pharmaceuticals in a report on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avadel Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $24.71.

Avadel Pharmaceuticals 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.