Deutsche Bank AG Has $5.35 Million Position in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Deutsche Bank AG grew its stake in shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 508,696 shares of the company's stock after acquiring an additional 32,227 shares during the period. Deutsche Bank AG owned 0.53% of Avadel Pharmaceuticals worth $5,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Braidwell LP grew its holdings in shares of Avadel Pharmaceuticals by 21.2% during the 4th quarter. Braidwell LP now owns 4,105,726 shares of the company's stock valued at $43,151,000 after acquiring an additional 716,787 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Avadel Pharmaceuticals during the 4th quarter valued at $245,000. Northern Trust Corp boosted its holdings in Avadel Pharmaceuticals by 11.3% in the fourth quarter. Northern Trust Corp now owns 658,582 shares of the company's stock worth $6,922,000 after purchasing an additional 66,948 shares in the last quarter. Tri Locum Partners LP boosted its holdings in Avadel Pharmaceuticals by 16.7% in the fourth quarter. Tri Locum Partners LP now owns 1,937,984 shares of the company's stock worth $20,368,000 after purchasing an additional 277,029 shares in the last quarter. Finally, Two Seas Capital LP boosted its holdings in Avadel Pharmaceuticals by 90.6% in the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after purchasing an additional 2,042,669 shares in the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVDL. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $19.43.

Get Our Latest Report on Avadel Pharmaceuticals

Avadel Pharmaceuticals Trading Up 2.8%

Avadel Pharmaceuticals stock traded up $0.25 on Friday, reaching $9.13. 818,988 shares of the stock were exchanged, compared to its average volume of 1,235,290. The stock has a market cap of $883.23 million, a PE ratio of -11.56 and a beta of 1.40. Avadel Pharmaceuticals plc has a twelve month low of $6.38 and a twelve month high of $17.30. The firm has a fifty day moving average price of $8.30 and a two-hundred day moving average price of $9.13.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. The firm had revenue of $52.51 million during the quarter, compared to analyst estimates of $50.57 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business's revenue was up 93.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) EPS. Equities analysts anticipate that Avadel Pharmaceuticals plc will post -0.51 EPS for the current fiscal year.

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.

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