Paloma Partners Management Co Buys New Stake in Avadel Pharmaceuticals PLC (NASDAQ:AVDL)

Paloma Partners Management Co acquired a new stake in shares of Avadel Pharmaceuticals PLC (NASDAQ:AVDL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 22,970 shares of the company’s stock, valued at approximately $59,000. Paloma Partners Management Co owned approximately 0.06% of Avadel Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVDL. Brandes Investment Partners LP lifted its holdings in shares of Avadel Pharmaceuticals by 12.4% during the 4th quarter. Brandes Investment Partners LP now owns 7,119,054 shares of the company’s stock valued at $18,367,000 after purchasing an additional 783,506 shares in the last quarter. Fosun International Ltd acquired a new stake in Avadel Pharmaceuticals in the 4th quarter valued at approximately $826,000. Broadfin Capital LLC raised its position in Avadel Pharmaceuticals by 11.1% in the 4th quarter. Broadfin Capital LLC now owns 3,102,673 shares of the company’s stock valued at $8,005,000 after buying an additional 309,900 shares during the last quarter. Morgan Stanley raised its position in Avadel Pharmaceuticals by 61.2% in the 3rd quarter. Morgan Stanley now owns 777,272 shares of the company’s stock valued at $3,412,000 after buying an additional 295,036 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Avadel Pharmaceuticals in the 4th quarter valued at approximately $253,000. Institutional investors and hedge funds own 53.43% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. ValuEngine raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. LADENBURG THALM/SH SH lowered Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Finally, Laidlaw set a $2.00 target price on Avadel Pharmaceuticals and gave the company a “hold” rating in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.08.

Shares of NASDAQ:AVDL traded up $0.03 during trading on Wednesday, hitting $1.14. 64,800 shares of the company were exchanged, compared to its average volume of 144,918. The firm has a market capitalization of $39.98 million, a price-to-earnings ratio of -0.57 and a beta of 1.78. Avadel Pharmaceuticals PLC has a fifty-two week low of $1.06 and a fifty-two week high of $7.97. The company has a quick ratio of 3.13, a current ratio of 3.25 and a debt-to-equity ratio of 41.63.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.06. The firm had revenue of $20.92 million for the quarter. Avadel Pharmaceuticals had a negative return on equity of 126.79% and a negative net margin of 92.29%. As a group, analysts anticipate that Avadel Pharmaceuticals PLC will post -1.39 earnings per share for the current year.

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About Avadel Pharmaceuticals

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

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