Ameriprise Financial Inc. lessened its holdings in Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 186,617 shares of the company’s stock after selling 2,360 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.45% of Avadel Pharmaceuticals PLC. worth $2,058,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Sei Investments Co. grew its position in Avadel Pharmaceuticals PLC. by 29.5% in the 2nd quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after acquiring an additional 2,900 shares during the last quarter. State of Tennessee Treasury Department bought a new position in Avadel Pharmaceuticals PLC. in the 2nd quarter valued at $194,000. Trexquant Investment LP grew its position in Avadel Pharmaceuticals PLC. by 30.7% in the 2nd quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock valued at $336,000 after acquiring an additional 7,169 shares during the last quarter. Alps Advisors Inc. bought a new position in Avadel Pharmaceuticals PLC. in the 2nd quarter valued at $411,000. Finally, State of New Jersey Common Pension Fund D grew its position in Avadel Pharmaceuticals PLC. by 27.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,090 shares of the company’s stock valued at $464,000 after acquiring an additional 9,175 shares during the last quarter. 69.05% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on AVDL shares. Roth Capital set a $15.00 price target on Avadel Pharmaceuticals PLC. and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Avadel Pharmaceuticals PLC. from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Langenberg & Company reissued a “buy” rating and set a $30.00 price target (up previously from $27.00) on shares of Avadel Pharmaceuticals PLC. in a research report on Thursday, September 7th. Finally, Ladenburg Thalmann Financial Services increased their price target on Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a research report on Thursday, September 7th.

In other news, Director Craig R. Stapleton acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average cost of $9.52 per share, with a total value of $190,400.00. Following the completion of the purchase, the director now owns 507,678 shares of the company’s stock, valued at approximately $4,833,094.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael S. Anderson acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was purchased at an average cost of $9.80 per share, with a total value of $39,200.00. The disclosure for this purchase can be found here. Insiders bought 46,855 shares of company stock valued at $445,058 over the last ninety days. Insiders own 5.07% of the company’s stock.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. Avadel Pharmaceuticals PLC. had a return on equity of 29.84% and a net margin of 21.13%. The business had revenue of $46.30 million during the quarter, compared to analysts’ expectations of $45.17 million. The firm’s revenue was up 19.0% compared to the same quarter last year.

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

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