Insider Buying: Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Purchases $39,650.00 in Stock

Avadel Pharmaceuticals plc (NASDAQ:AVDL) Director Linda Palczuk acquired 5,000 shares of the company’s stock in a transaction on 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 purchase, the director now owns 67,900 shares in the company, valued at approximately $538,447. This trade represents a 7.95 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Linda Palczuk also recently made the following trade(s):

• On Friday, December 6th, Linda Palczuk acquired 3,000 shares of Avadel Pharmaceuticals stock. The stock was bought at an average cost of $10.19 per share, for a total transaction of $30,570.00.

Avadel Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ:AVDL opened at $7.85 on Friday. The firm has a market cap of $756.44 million, a PE ratio of -9.94 and a beta of 1.31. Avadel Pharmaceuticals plc has a 12-month low of $7.39 and a 12-month high of $19.09. The company’s 50 day moving average price is $10.04 and its two-hundred day moving average price is $13.05.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results 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. The company had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The firm’s revenue was up 624.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) EPS. On average, research analysts expect that Avadel Pharmaceuticals plc will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $31,000. Amalgamated Bank bought a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $45,000. Quarry LP purchased a new position in Avadel Pharmaceuticals in the second quarter worth $63,000. Advisors Asset Management Inc. increased its holdings in Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock worth $104,000 after buying an additional 2,846 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter worth approximately $160,000. Institutional investors own 69.19% of the company’s stock.

Wall Street Analysts Forecast Growth

AVDL has been the subject of a number of research reports. Piper Sandler reduced their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Oppenheimer raised their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. Needham & Company LLC reduced their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Finally, UBS Group reduced their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals currently has an average rating of “Buy” and a consensus 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.