Crossmark Global Holdings Inc. Takes $350,000 Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Crossmark Global Holdings Inc. bought a new position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 26,666 shares of the company’s stock, valued at approximately $350,000.

A number of other large investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in shares of Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after acquiring an additional 1,789,830 shares during the period. Gendell Jeffrey L lifted its holdings in Avadel Pharmaceuticals by 1.7% during the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock worth $96,410,000 after purchasing an additional 92,768 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Avadel Pharmaceuticals by 1.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after purchasing an additional 21,214 shares during the period. Kennedy Capital Management LLC grew its holdings in Avadel Pharmaceuticals by 1.1% in the 1st quarter. Kennedy Capital Management LLC now owns 653,147 shares of the company’s stock valued at $11,032,000 after buying an additional 7,273 shares in the last quarter. Finally, Modera Wealth Management LLC grew its holdings in Avadel Pharmaceuticals by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock valued at $8,473,000 after buying an additional 2,159 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Down 5.9 %

AVDL opened at $10.91 on Monday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals plc has a twelve month low of $10.39 and a twelve month high of $19.09. The company has a 50-day simple moving average of $13.49 and a 200 day simple moving average of $14.98.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. During the same quarter in the prior year, the firm posted ($0.41) EPS. The firm’s quarterly revenue was up 624.6% on a year-over-year basis. Sell-side analysts anticipate that Avadel Pharmaceuticals plc will post -0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AVDL shares. Oppenheimer lifted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. HC Wainwright cut their price objective on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals has an average rating of “Buy” and a consensus price target of $24.43.

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.