Avadel Pharmaceuticals PLC. (AVDL) Stake Lifted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its holdings in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 37.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,690 shares of the company’s stock after purchasing an additional 15,657 shares during the quarter. Public Employees Retirement System of Ohio owned 0.14% of Avadel Pharmaceuticals PLC. worth $636,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in AVDL. Acadian Asset Management LLC grew its stake in shares of Avadel Pharmaceuticals PLC. by 9.7% in the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock worth $18,444,000 after purchasing an additional 147,907 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 27.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 42,090 shares of the company’s stock valued at $464,000 after buying an additional 9,175 shares during the period. Sei Investments Co. lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after buying an additional 2,900 shares during the period. Trexquant Investment LP lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 30.7% in the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock valued at $336,000 after buying an additional 7,169 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of Avadel Pharmaceuticals PLC. in the second quarter valued at $411,000. 69.07% of the stock is owned by institutional investors.

In other Avadel Pharmaceuticals PLC. news, Director Peter J. Thornton purchased 5,155 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The shares were purchased at an average cost of $9.74 per share, with a total value of $50,209.70. Following the completion of the transaction, the director now owns 5,155 shares of the company’s stock, valued at $50,209.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael S. Anderson purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were acquired at an average cost of $9.80 per share, for a total transaction of $39,200.00. The disclosure for this purchase can be found here. Insiders have purchased 46,855 shares of company stock worth $445,058 over the last three months. 5.07% of the stock is owned by insiders.

Several analysts have recently weighed in on AVDL shares. Zacks Investment Research lowered Avadel Pharmaceuticals PLC. from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Langenberg & Company restated a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Avadel Pharmaceuticals PLC. in a report on Thursday, September 7th. Ladenburg Thalmann Financial Services upped their price objective on Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a report on Thursday, September 7th. Finally, Roth Capital set a $15.00 price objective on Avadel Pharmaceuticals PLC. and gave the company a “buy” rating in a report on Wednesday, August 9th.

Shares of Avadel Pharmaceuticals PLC. (NASDAQ AVDL) opened at $9.19 on Friday. Avadel Pharmaceuticals PLC. has a fifty-two week low of $8.14 and a fifty-two week high of $12.30. The company has a market capitalization of $368.37, a price-to-earnings ratio of 17.02 and a beta of 1.41. The company has a current ratio of 2.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.01.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last announced its earnings results on Wednesday, November 8th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.13. Avadel Pharmaceuticals PLC. had a return on equity of 39.24% and a net margin of 44.47%. The business had revenue of $39.68 million during the quarter, compared to the consensus estimate of $38.22 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Avadel Pharmaceuticals PLC.’s revenue was up 23.7% compared to the same quarter last year. sell-side analysts anticipate that Avadel Pharmaceuticals PLC. will post 0.3 EPS for the current year.

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About Avadel Pharmaceuticals PLC.

Avadel Pharmaceuticals plc (NASDAQ: AVDL) is a specialty pharmaceutical company that seeks to commercialize differentiated pharmaceutical products that are safe, effective and easy to take through formulation development, by utilizing its proprietary drug delivery technology and in-licensing / acquiring new products; ultimately, helping patients adhere to their prescribed medical treatment and see better results.

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Institutional Ownership by Quarter for Avadel Pharmaceuticals PLC. (NASDAQ:AVDL)

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