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.
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