Schonfeld Strategic Advisors LLC Sells 22,256 Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Schonfeld Strategic Advisors LLC cut its position in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 31.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,644 shares of the company’s stock after selling 22,256 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Avadel Pharmaceuticals were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AVDL. Hsbc Holdings PLC bought a new position in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $113,000. Kazazian Asset Management LLC acquired a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth $126,000. Sanctuary Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 4th quarter valued at $140,000. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Avadel Pharmaceuticals in the 4th quarter worth $163,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Avadel Pharmaceuticals by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock worth $215,000 after buying an additional 1,916 shares during the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVDL. UBS Group dropped their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Avadel Pharmaceuticals in a report on Thursday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $19.43.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL opened at $9.39 on Friday. The firm’s fifty day moving average is $8.11 and its two-hundred day moving average is $9.48. The firm has a market cap of $907.35 million, a price-to-earnings ratio of -11.89 and a beta of 1.40. Avadel Pharmaceuticals plc has a one year low of $6.38 and a one year high of $17.51.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $52.51 million for the quarter, compared to analyst estimates of $50.57 million. During the same period last year, the company earned ($0.30) earnings per share. Avadel Pharmaceuticals’s revenue for the quarter was up 93.2% compared to the same quarter last year. As a group, equities research analysts predict that Avadel Pharmaceuticals plc will post -0.51 earnings per share for the current fiscal year.

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.