O Shaughnessy Asset Management LLC boosted its stake in Avadel Pharmaceuticals (NASDAQ:AVDL) by 39.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,987 shares of the company’s stock after purchasing an additional 10,490 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Avadel Pharmaceuticals were worth $270,000 as of its most recent SEC filing.
Separately, Alps Advisors Inc. lifted its stake in Avadel Pharmaceuticals by 21.0% in the 1st quarter. Alps Advisors Inc. now owns 53,760 shares of the company’s stock worth $392,000 after purchasing an additional 9,342 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avadel Pharmaceuticals opened at $6.98 on Monday, MarketBeat Ratings reports. The company has a quick ratio of 2.59, a current ratio of 2.66 and a debt-to-equity ratio of 1.28. Avadel Pharmaceuticals has a one year low of $6.17 and a one year high of $11.93.
Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Wednesday, May 2nd. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.08). The company had revenue of $33.29 million during the quarter, compared to the consensus estimate of $29.60 million. Avadel Pharmaceuticals had a negative return on equity of 13.95% and a net margin of 18.96%. equities analysts anticipate that Avadel Pharmaceuticals will post -1.55 earnings per share for the current year.
Avadel Pharmaceuticals declared that its Board of Directors has approved a share buyback program on Tuesday, March 27th that authorizes the company to repurchase $7.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
AVDL has been the topic of several research analyst reports. BidaskClub upgraded shares of Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Zacks Investment Research cut shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. ValuEngine cut shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, March 9th. Ladenburg Thalmann decreased their price target on shares of Avadel Pharmaceuticals to $24.00 and set a “buy” rating on the stock in a research note on Friday, March 9th. Finally, TheStreet cut shares of Avadel Pharmaceuticals from a “c” rating to a “d+” rating in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.00.
Avadel Pharmaceuticals Profile
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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