Alps Advisors Inc. Has $392,000 Position in Avadel Pharmaceuticals (AVDL)

Alps Advisors Inc. increased its stake in Avadel Pharmaceuticals (NASDAQ:AVDL) by 21.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,760 shares of the company’s stock after buying an additional 9,342 shares during the quarter. Alps Advisors Inc. owned about 0.13% of Avadel Pharmaceuticals worth $392,000 as of its most recent SEC filing.

AVDL has been the subject of a number of analyst reports. Zacks Investment Research downgraded Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, February 16th. BidaskClub upgraded Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. ValuEngine upgraded Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Ladenburg Thalmann lowered their price target on Avadel Pharmaceuticals to $24.00 and set a “buy” rating for the company in a research report on Friday, March 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Avadel Pharmaceuticals has an average rating of “Hold” and an average price target of $20.00.

Shares of AVDL opened at $6.98 on Friday. The firm has a market capitalization of $257.21 million, a P/E ratio of 22.52 and a beta of 1.54. Avadel Pharmaceuticals has a 52-week low of $6.90 and a 52-week high of $7.18. The company has a quick ratio of 2.59, a current ratio of 2.66 and a debt-to-equity ratio of 1.28.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.08). Avadel Pharmaceuticals had a negative return on equity of 13.95% and a net margin of 18.96%. The company had revenue of $33.29 million during the quarter, compared to the consensus estimate of $29.60 million. sell-side analysts anticipate that Avadel Pharmaceuticals will post -1.55 earnings per share for the current fiscal year.

Avadel Pharmaceuticals announced that its board has authorized a stock repurchase program on Tuesday, March 27th that allows the company to buyback $7.00 million in shares. This buyback authorization allows the company to purchase up to 2.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.

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

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