Investors Asset Management of Georgia Inc. GA ADV Has $1.26 Million Stock Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Investors Asset Management of Georgia Inc. GA ADV raised its stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,275 shares of the company’s stock after buying an additional 21,200 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Avadel Pharmaceuticals were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC bought a new stake in Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Advisors Asset Management Inc. boosted its stake in shares of Avadel Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Avadel Pharmaceuticals in the 4th quarter worth about $140,000. Aigen Investment Management LP bought a new stake in shares of Avadel Pharmaceuticals in the third quarter worth $160,000. Finally, Creative Planning increased its position in Avadel Pharmaceuticals by 8.2% during the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after purchasing an additional 938 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AVDL shares. Needham & Company LLC dropped their price target on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, January 9th. HC Wainwright reissued 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target for the company. Oppenheimer raised their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, UBS Group dropped their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $19.88.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $8.47 on Friday. The company has a market cap of $816.17 million, a P/E ratio of -10.72 and a beta of 1.28. The firm’s fifty day moving average is $9.12 and its two-hundred day moving average is $11.98. Avadel Pharmaceuticals plc has a 52-week low of $7.39 and a 52-week high of $19.09.

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, Director Linda Palczuk purchased 3,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $10.19 per share, with a total value of $30,570.00. Following the completion of the transaction, the director now owns 66,400 shares in the company, valued at $676,616. This represents a 4.73 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter J. Thornton acquired 10,000 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average price of $8.04 per share, with a total value of $80,400.00. Following the completion of the purchase, the director now directly owns 104,055 shares of the company’s stock, valued at approximately $836,602.20. This trade represents a 10.63 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 55,579 shares of company stock worth $526,363 over the last ninety days. Company insiders own 4.80% of the company’s stock.

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.