Stock Traders Purchase High Volume of Avadel Pharmaceuticals Call Options (NASDAQ:AVDL)

approximately 1,000% compared to the average daily volume of 386 call options. Some unusual options trading activity was seen on Monday for Avadel Pharmaceuticals plc. There was about a 1000% increase in the number of call options bought compared to the average daily volume.

On Monday, there was some unusual activity in the options market. Stock investors purchased 4,167 call option contracts on the stock. This is an 86% increase compared to a typical daily call option volume of 2,236.

Wall Street analysts weigh in

A number of brokerages commented on AVDL. Oppenheimer raised their target price for shares of Avadel Pharmaceuticals to $25.00 from $22.00 in a research report on Friday, 30th June. They also gave the stock an 'outperform' rating. HC Wainwright raised their price target for shares of Avadel Pharmaceuticals in a report published on Wednesday, 7th July from $17.50 up to $21.00. LADENBURG/SH SH raised their price target for shares of Avadel Pharmaceuticals in a report published on May 2nd from $14.50 up to $16.00. Needham & Company LLC reaffirmed a buy' rating on Avadel Pharmaceuticals shares and issued a price target of $18.00 in a report published on Friday, June 30, 2013. Lifesci Capital also reaffirmed a 'outperform rating' on shares of Avadel Pharmaceuticals on Wednesday, April 26th. During the midday session on Monday, shares fell by $0.21 to $13.66. The stock changed hands 104,069 times, as opposed to the average of 779.957. Avadel Pharmaceuticals's 12-month low is $4.16, and its 12-month high is $16.85. The company has a moving average 50-days of $14.58, and a moving average two hundred days of $11.11. The stock is valued at $1.05 billion and has a PE of -5.98, with a beta of 1.44.

The company last announced its quarterly results on Thursday, 4th May. The company's earnings per share (EPS), which were ($0.48), fell short of the consensus estimate ($0.37) set by analysts ($0.11). Analysts predict that Avadel Pharmaceuticals' earnings per share will be -1.31 for the current fiscal year.

Insiders Bet on the Future

Linda Palczuk, the director of the company, bought 2,500 shares in a transaction that took place on Tuesday, 9th May. The shares were purchased at an average price of $14.76 for the transaction total of $36,900.00. After the purchase, the director owns 52.400 shares worth $773.424. Insiders hold 4.00% the stock of the company.

Inflows of Institutional Capital and Outflows

A number of institutional investors and hedge funds have recently changed their positions on AVDL. BlackRock Inc. increased their stake in Avadel Pharmaceuticals shares by 22.7% during the first quarter. BlackRock Inc. owns 36.706 shares worth $251,000, after adding 6,782 more shares. Graham Capital Management L.P. purchased a new Avadel Pharmaceuticals position valued at $561,000. Engineers Gate Manager LP acquired a new position in Avadel Pharmaceuticals during the first quarter, valued at approximately $79,000. State Street Corp increased its stake in Avadel Pharmaceuticals shares by 8.6% during 1st Quarter. State Street Corp owns 205.794 shares worth $1.406,000, after buying an additional 16.278 shares. Polar Capital Holdings Plc increased its stake in Avadel Pharmaceuticals during the first quarter by 14.5%. Polar Capital Holdings Plc owns now 3,199,152 of the company stock valued at $18,850,000, after purchasing an additional 404 479 shares. Hedge funds, other institutional investors and pension funds own 67.16%.

About Avadel Pharmaceuticals

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Avadel Pharmaceuticals plc is a biopharmaceutical firm in the United States. LUMRYZ is a formulation containing sodium oxybate that is currently in Phase 3 of a clinical trial to treat excessive daytime sleepiness in adults with Narcolepsy. Avadel Pharmaceuticals plc was previously known as Flamel Technologies SA. offers a FREE daily email newsletter