Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Short Interest Update

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) was the recipient of a large growth in short interest in January. As of January 15th, there was short interest totaling 3,607,258 shares, a growth of 32.1% from the December 31st total of 2,730,297 shares. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,113,434 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 2,113,434 shares, the days-to-cover ratio is presently 1.7 days. Approximately 3.9% of the shares of the stock are sold short.

Avadel Pharmaceuticals Stock Up 0.0%

Shares of NASDAQ:AVDL opened at $21.56 on Tuesday. The firm’s 50 day simple moving average is $21.51 and its 200-day simple moving average is $17.70. Avadel Pharmaceuticals has a one year low of $6.38 and a one year high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The firm had revenue of $77.47 million during the quarter, compared to the consensus estimate of $78.05 million. Avadel Pharmaceuticals had a negative return on equity of 0.33% and a negative net margin of 0.11%.The firm’s revenue for the quarter was up 55.0% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, equities analysts expect that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVDL shares. Zacks Research raised Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Leerink Partners downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Craig Hallum downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. UBS Group cut shares of Avadel Pharmaceuticals to a “neutral” rating in a research report on Tuesday, October 28th. Finally, Needham & Company LLC lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVDL. Handelsbanken Fonder AB bought a new stake in Avadel Pharmaceuticals during the second quarter valued at about $302,000. AWM Investment Company Inc. raised its holdings in Avadel Pharmaceuticals by 671.2% in the second quarter. AWM Investment Company Inc. now owns 316,189 shares of the company’s stock worth $2,798,000 after purchasing an additional 275,189 shares in the last quarter. Two Seas Capital LP lifted its position in shares of Avadel Pharmaceuticals by 24.4% during the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after buying an additional 1,208,625 shares during the last quarter. Brandes Investment Partners LP boosted its holdings in shares of Avadel Pharmaceuticals by 14.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after buying an additional 820,467 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 30.1% in the 2nd quarter. Kennedy Capital Management LLC now owns 981,271 shares of the company’s stock valued at $8,684,000 after buying an additional 227,228 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.