Two Seas Capital LP Has $45.16 Million Stake in Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Two Seas Capital LP raised its holdings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) by 90.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,296,449 shares of the company’s stock after buying an additional 2,042,669 shares during the period. Avadel Pharmaceuticals comprises about 3.5% of Two Seas Capital LP’s holdings, making the stock its 7th largest position. Two Seas Capital LP owned approximately 4.46% of Avadel Pharmaceuticals worth $45,156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVDL. Barclays PLC raised its position in Avadel Pharmaceuticals by 45.8% in the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after buying an additional 123,430 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Avadel Pharmaceuticals by 33.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 35,481 shares of the company’s stock valued at $373,000 after purchasing an additional 8,815 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Avadel Pharmaceuticals by 274.6% in the fourth quarter. SG Americas Securities LLC now owns 46,767 shares of the company’s stock valued at $492,000 after purchasing an additional 34,281 shares during the last quarter. Wealth Effects LLC lifted its position in shares of Avadel Pharmaceuticals by 4.9% during the fourth quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock valued at $24,637,000 after purchasing an additional 110,359 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Avadel Pharmaceuticals by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock worth $215,000 after purchasing an additional 1,916 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVDL has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $19.43.

Avadel Pharmaceuticals Stock Up 0.2%

Shares of AVDL stock opened at $9.37 on Wednesday. The firm has a market cap of $905.41 million, a P/E ratio of -11.86 and a beta of 1.40. The company has a 50 day moving average of $8.28 and a 200-day moving average of $9.26. Avadel Pharmaceuticals plc has a 12-month low of $6.38 and a 12-month high of $17.30.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $52.51 million for the quarter, compared to the consensus estimate of $50.57 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company’s revenue was up 93.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) earnings per share. As a group, equities analysts expect that Avadel Pharmaceuticals plc will post -0.51 EPS for the current year.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.