Avadel Pharmaceuticals plc [AVDL] Investment Appeal on the Rise


In a filing, Avadel Pharmaceuticals plc revealed its Chief Financial Officer MCHUGH THOMAS S acquired Company’s shares for reported $28900.0 on Aug 14. In the deal valued at $14.45 per share,2,000 shares were bought. As a result of this transaction, MCHUGH THOMAS S now holds 78,500 shares worth roughly $ 1.05 million.

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Then, McCamish Mark Anthony sold 28,975 shares, generating $432,614 in total proceeds. Upon selling the shares at $14.93, the Director now owns 142,025 shares.

Before that, Glass Geoffrey Michael bought 14,000 shares. Avadel Pharmaceuticals plc shares valued at $187,600 were divested by the Director at a price of $13.40 per share. As a result of the transaction, Glass Geoffrey Michael now holds 59,000 shares, worth roughly $0.79 million.

Jefferies upgraded its Avadel Pharmaceuticals plc [AVDL] rating to a Buy from a a Hold in a research note published on Friday, November 30, 2022; the price target was increased to $11 from $6.50. PT values the company’s stock at a premium of -21.64 to its Friday closing price.

Price Performance Review of AVDL

On Friday, Avadel Pharmaceuticals plc [NASDAQ:AVDL] saw its stock fall -0.96% to $13.38. On the same session, the stock had its day’s lowest price of $13.24, but rose to a high of $13.97. Over the last five days, the stock has lost -3.74%. Avadel Pharmaceuticals plc shares have risen nearly 86.87% since the year began. Nevertheless, the stocks have risen 101.51% over the past one year. While a 52-week high of $16.85 was reached on 07/17/23, a 52-week low of $4.61 was recorded on 01/20/23. SMA at 50 days reached $14.10, while 200 days put it at $10.92. A total of 0.7 million shares were traded, compared to the trading of 0.37 million shares in the previous session.

Levels Of Support And Resistance For AVDL Stock

The 24-hour chart illustrates a support level at 13.09, which if violated will result in even more drops to 12.80. On the upside, there is a resistance level at 13.82. A further resistance level may holdings at 14.26. The Relative Strength Index (RSI) on the 14-day chart is 45.26, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.55%. Stochastics %K at 48.49% indicates the stock is a holding.

How much short interest is there in Avadel Pharmaceuticals plc?

A steep rise in short interest was recorded in Avadel Pharmaceuticals plc stocks on Aug 14, 2023, dropping by -0.32 million shares to a total of 3.08 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.4 million shares. There was a decline of -10.39%, which implies that there is a negative sentiment for the stock.

Avadel Pharmaceuticals plc [AVDL] – Who Are The Largest Shareholders?

In filings from Janus Henderson Investors US LLC, it is revealed that the company now owns 9,443,642 shares, or roughly 12.30% of the outstanding AVDL shares. In other words, the investor’s shares have risen by 1,921,097 from its previous 13-F filing of 7522545.0. Additionally, RTW Investments LP increased 18.61% of its stake after which the total value it holdings stand at $96,030,038, while Tontine Associates LLC added 1.78% of its stake to hold $76.08 million in the firm. Over the last quarter, Polar Capital LLP sold -37,569 shares of Avadel Pharmaceuticals plc, while Adage Capital Management LP sold 2,680,000 shares. At present, Cowen & Co. LLC is holding 2,664,076 shares valued at $37.56 million. Wealth Effects LLC owned 2,369,089 shares of the company at the time of its most recent 13F filing, worth $33.4 million.

According to FactSet, Avadel Pharmaceuticals plc’s share price will average $19.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 33.23 percent from its previous closing price of $13.51. Analysts expect Avadel Pharmaceuticals plc stock to reach the higher price of $26.00, while the lowest price estimate is $17.00. However, 9 analysts have rated AVDL stock as a Buy in their predictions for 2023.


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