Kazazian Asset Management LLC Buys New Stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Kazazian Asset Management LLC bought a new stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,000 shares of the company’s stock, valued at approximately $126,000.

Several other institutional investors have also recently added to or reduced their stakes in AVDL. Brandes Investment Partners LP increased its holdings in Avadel Pharmaceuticals by 58.1% in the 4th quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock valued at $22,840,000 after purchasing an additional 798,415 shares during the last quarter. Braidwell LP boosted its position in Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after buying an additional 490,300 shares during the period. State Street Corp boosted its position in Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares during the period. Modera Wealth Management LLC boosted its position in Avadel Pharmaceuticals by 29.6% in the 4th quarter. Modera Wealth Management LLC now owns 782,567 shares of the company’s stock valued at $8,225,000 after buying an additional 178,601 shares during the period. Finally, Barclays PLC boosted its position in Avadel Pharmaceuticals by 45.8% in the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after buying an additional 123,430 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AVDL shares. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Monday, March 3rd. UBS Group decreased their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Piper Sandler decreased their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price target for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $19.88.

Insider Buying and Selling

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

Avadel Pharmaceuticals Trading Down 2.4 %

Avadel Pharmaceuticals stock opened at $8.63 on Wednesday. The stock has a market cap of $833.91 million, a P/E ratio of -10.92 and a beta of 1.57. The company has a fifty day simple moving average of $8.22 and a 200-day simple moving average of $10.93. Avadel Pharmaceuticals plc has a 12-month low of $7.39 and a 12-month high of $19.09.

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.