Janus Henderson Group PLC Boosts Holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Janus Henderson Group PLC lifted its stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,915,160 shares of the company’s stock after purchasing an additional 1,789,830 shares during the period. Janus Henderson Group PLC owned 14.26% of Avadel Pharmaceuticals worth $218,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Chilton Capital Management LLC purchased a new position in Avadel Pharmaceuticals during the 1st quarter valued at about $51,000. BNP Paribas Financial Markets increased its stake in Avadel Pharmaceuticals by 60.5% during the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after purchasing an additional 1,685 shares in the last quarter. Quarry LP bought a new stake in Avadel Pharmaceuticals during the 4th quarter valued at about $120,000. China Universal Asset Management Co. Ltd. increased its stake in Avadel Pharmaceuticals by 349.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock valued at $146,000 after purchasing an additional 8,029 shares in the last quarter. Finally, Claro Advisors LLC bought a new stake in Avadel Pharmaceuticals during the 1st quarter valued at about $172,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Trading Down 0.5 %

NASDAQ AVDL traded down $0.08 during trading hours on Tuesday, hitting $16.24. 487,706 shares of the company’s stock traded hands, compared to its average volume of 1,243,975. The business’s fifty day moving average price is $15.53 and its two-hundred day moving average price is $15.65. The firm has a market capitalization of $1.56 billion, a P/E ratio of -8.73 and a beta of 1.53. Avadel Pharmaceuticals plc has a 52 week low of $9.50 and a 52 week high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $25.89 million. Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The business’s quarterly revenue was up 2617.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.48) earnings per share. On average, sell-side analysts expect that Avadel Pharmaceuticals plc will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

AVDL has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Wednesday, May 8th. HC Wainwright lifted their price target on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Rodman & Renshaw assumed coverage on shares of Avadel Pharmaceuticals in a research note on Wednesday, June 12th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Craig Hallum lifted their price target on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.57.

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.