Craig Stapleton Buys 20,000 Shares of Avadel Pharmaceuticals PLC. (AVDL) Stock
Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Director Craig Stapleton acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $9.52 per share, with a total value of $190,400.00. Following the completion of the acquisition, the director now owns 507,678 shares in the company, valued at $4,833,094.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Avadel Pharmaceuticals PLC. (NASDAQ AVDL) traded up 4.19% during mid-day trading on Wednesday, reaching $11.20. The company had a trading volume of 123,837 shares. The firm has a market capitalization of $448.94 million, a PE ratio of 12.17 and a beta of 1.47. The stock’s 50-day moving average price is $9.30 and its 200 day moving average price is $9.78. Avadel Pharmaceuticals PLC. has a 52 week low of $8.14 and a 52 week high of $13.25.
Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last released its earnings results on Tuesday, August 8th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $45.17 million. Avadel Pharmaceuticals PLC. had a net margin of 21.13% and a return on equity of 29.84%. Avadel Pharmaceuticals PLC.’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities research analysts predict that Avadel Pharmaceuticals PLC. will post $1.16 EPS for the current year.
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Several equities research analysts recently commented on AVDL shares. Zacks Investment Research upgraded Avadel Pharmaceuticals PLC. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, July 17th. Ladenburg Thalmann Financial Services raised their price target on shares of Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a report on Thursday, September 7th. Roth Capital set a $15.00 price target on shares of Avadel Pharmaceuticals PLC. and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Langenberg & Company reissued a “buy” rating and set a $30.00 price objective (up from $27.00) on shares of Avadel Pharmaceuticals PLC. in a report on Thursday, September 7th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Avadel Pharmaceuticals PLC. by 2,484.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,956 shares of the company’s stock worth $121,000 after acquiring an additional 10,532 shares during the last quarter. US Bancorp DE acquired a new stake in Avadel Pharmaceuticals PLC. during the 1st quarter worth about $121,000. Sei Investments Co. lifted its position in Avadel Pharmaceuticals PLC. by 29.5% during the 2nd quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock worth $140,000 after acquiring an additional 2,900 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Avadel Pharmaceuticals PLC. during the 2nd quarter worth about $181,000. Finally, State of Tennessee Treasury Department acquired a new stake in Avadel Pharmaceuticals PLC. during the 2nd quarter worth about $194,000. 69.09% of the stock is currently owned by hedge funds and other institutional investors.
Avadel Pharmaceuticals PLC. Company Profile
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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