Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Short Interest Down 36.0% in January

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 2,308,285 shares, a decrease of 36.0% from the January 15th total of 3,607,258 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily volume of 906,906 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 906,906 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.5% of the company’s shares are sold short.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Avadel Pharmaceuticals by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company’s stock worth $430,000 after acquiring an additional 2,291 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Avadel Pharmaceuticals in the first quarter valued at approximately $115,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Avadel Pharmaceuticals during the second quarter valued at approximately $176,000. Nisa Investment Advisors LLC raised its position in shares of Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after purchasing an additional 2,055 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $848,000. Institutional investors own 69.19% of the company’s stock.

Wall Street Analyst Weigh In

AVDL has been the subject of several research reports. HC Wainwright downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Thursday, October 23rd. Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Leerink Partners downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, UBS Group lowered Avadel Pharmaceuticals to a “neutral” rating in a research report on Tuesday, October 28th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Avadel Pharmaceuticals Stock Down 1.1%

Avadel Pharmaceuticals stock opened at $21.39 on Friday. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $23.57. The company has a fifty day moving average price of $21.51 and a two-hundred day moving average price of $18.19.

Avadel Pharmaceuticals Company Profile

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.