Kennedy Capital Management LLC Has $11.11 Million Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Kennedy Capital Management LLC increased its position in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 79.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,056,934 shares of the company’s stock after buying an additional 468,757 shares during the period. Kennedy Capital Management LLC’s holdings in Avadel Pharmaceuticals were worth $11,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVDL. Invesco Ltd. increased its holdings in Avadel Pharmaceuticals by 2.3% in the 4th quarter. Invesco Ltd. now owns 52,142 shares of the company’s stock valued at $548,000 after buying an additional 1,177 shares during the period. Iridian Asset Management LLC CT boosted its position in shares of Avadel Pharmaceuticals by 1.1% during the 4th quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock valued at $1,782,000 after acquiring an additional 1,886 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Avadel Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock valued at $215,000 after acquiring an additional 1,916 shares during the period. FMR LLC acquired a new position in Avadel Pharmaceuticals in the third quarter worth about $31,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Avadel Pharmaceuticals by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 222,798 shares of the company’s stock worth $2,342,000 after purchasing an additional 2,434 shares during the period. 69.19% of the stock is owned by institutional investors.

Avadel Pharmaceuticals Trading Down 1.8 %

Shares of NASDAQ AVDL opened at $7.13 on Friday. Avadel Pharmaceuticals plc has a 1-year low of $6.38 and a 1-year high of $19.09. The company has a 50-day moving average of $8.03 and a two-hundred day moving average of $10.14. The company has a market cap of $688.96 million, a PE ratio of -9.03 and a beta of 1.52.

Insider Activity at Avadel Pharmaceuticals

In other news, Director Linda Palczuk bought 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $7.93 per share, with a total value of $39,650.00. Following the purchase, the director now owns 67,900 shares of the company’s stock, valued at approximately $538,447. This represents a 7.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter J. Thornton bought 10,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of $8.04 per share, with a total value of $80,400.00. Following the transaction, the director now owns 104,055 shares of the company’s stock, valued at $836,602.20. The trade was a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVDL shares. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target on the stock. Piper Sandler cut their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a report on Wednesday. Finally, UBS Group cut their price target 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals presently has an average rating of “Buy” and an average price target 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.