Avadel Pharmaceuticals plc (NASDAQ: AVDL): The Best-Of-Breed For Investing?

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Acuta Capital Partners LLC recently announced the acquisition of new stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL). The institutional investor has increased its shareholding in the Healthcare company by 64.54% to 2.67 million shares with purchase of 1.05 million shares. This fresh investment now brings its stake to 4.60% valued currently at $21.6 million. In addition, Cowen & Co. LLC raised its holdings by 1.52 million to 1.52 million shares.

With over 0.73 million Avadel Pharmaceuticals plc (AVDL) shares trading Tuesday and a closing price of $7.66 on the day, the dollar volume was approximately $5.63 million. The shares have shown a negative weekly performance of -0.91% and its price on 07/14/20 lost nearly -1.79%. Currently, there are 41.06M common shares owned by the public and among those 35.64M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for AVDL have a consensus price objective of $18.33. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $15.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Avadel Pharmaceuticals plc stock is 1.50 for the next 12 months. But an upside of 66.7% will see the stock hit the forecast high price target while mean target price for the stock is $18.00.

Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Avadel Pharmaceuticals plc are Polar Capital Funds Plc – Healthc, Invesco Health Care Fund, and Brandes Investment Funds Plc – Eu. Polar Capital Funds Plc – Healthc owns 2.69 million shares of the company’s stock, all valued at over $21.77 million. The company bought an additional 0.34 million shares recently to bring their total holdings to about 4.64% of the shares outstanding. Brandes Investment Funds Plc – Eu sold -1.26 million shares to bring its total holdings to over 0.46 million shares at a value of $3.7 million. Brandes Investment Funds Plc – Eu now owns shares totaling to 0.79% of the shares outstanding.

Shares of Avadel Pharmaceuticals plc (NASDAQ: AVDL) opened at $7.75, down -$0.05 from a prior closing price of $7.80. However, the script later closed the day at $7.66, down -1.79%. The company’s stock has a 5-day price change of -0.91% and -24.08% over the past three months. AVDL shares are trading 1.46% year to date (YTD), with the 12-month market performance up to 249.77% higher. It has a 12-month low price of $1.82 and touched a high of $13.49 over the same period. Currently, 0.73 million shares have been traded, compared to an average intraday trading volume of 900.62K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.46%, -8.71%, and 6.04% respectively.

Institutional ownership of Avadel Pharmaceuticals plc (NASDAQ: AVDL) shares accounts for 48.10% of the company’s 41.06M shares outstanding. Mutual fund holders own 32.23%, while other institutional holders and individual stakeholders account for 9.61% and 11.71% respectively.

It has a market capitalization of $426.28M and a beta (3y monthly) value of 1.38. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.65% over the week and 6.36% over the month.

Analysts forecast that Avadel Pharmaceuticals plc (AVDL) will achieve an EPS of -$0.16 for the current quarter, -$0.19 for the next quarter and -$0.65 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.22 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was -$0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 65.30%, and -10.20% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 18.50% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Avadel Pharmaceuticals plc (AVDL) as a “Strong Buy” at a consensus score of 1.50. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the AVDL, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on June 30, 2020, with the firm’s price target at $15. Jefferies coverage for the Avadel Pharmaceuticals plc (AVDL) stock in a research note released on April 03, 2020 offered a Buy rating with a price target of $14. Stifel was of a view on March 12, 2020 that the stock is Buy, while Piper Sandler gave the stock Overweight rating on February 26, 2020, issuing a price target of $14. Craig Hallum on their part issued Buy rating on January 30, 2020.

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