<div id="readability-page-1"><p>Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 7,200,000 shares, an increase of 11.1% from the May 31st total of 6,480,000 shares. Based on an average trading volume of 1,000,000 shares, the days-to-cover ratio is presently 7.2 days.</p><div><p><span></span><span>Get <strong>Avadel Pharmaceuticals</strong> alerts:</span></p></div><h2>Institutional Trading of Avadel Pharmaceuticals</h2><p>Several hedge funds and other institutional investors have recently modified their holdings of AVDL. Chilton Capital Management LLC bought a new position in shares of Avadel Pharmaceuticals in the first quarter worth $51,000. BNP Paribas Financial Markets grew its holdings in Avadel Pharmaceuticals by 60.5% during the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company's stock valued at $75,000 after buying an additional 1,685 shares in the last quarter. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals during the fourth quarter valued at about $120,000. Claro Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals in the first quarter worth about $172,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Avadel Pharmaceuticals by 349.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company's stock valued at $146,000 after acquiring an additional 8,029 shares during the period. Institutional investors own 69.19% of the company's stock. </p><h2>Wall Street Analyst Weigh In</h2><p>A number of research firms recently weighed in on AVDL. Rodman &amp; Renshaw initiated coverage on shares of Avadel Pharmaceuticals in a research report on Wednesday, June 12th. They set a &#34;buy&#34; rating and a $27.00 price target on the stock. Craig Hallum boosted their target price on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a &#34;buy&#34; rating in a research note on Thursday, May 9th. Needham &amp; Company LLC reaffirmed a &#34;buy&#34; rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, May 8th. HC Wainwright lifted their price target on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a &#34;buy&#34; rating in a report on Thursday, May 9th. Finally, Oppenheimer upped their price objective on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an &#34;outperform&#34; rating in a research note on Tuesday, March 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals currently has an average rating of &#34;Buy&#34; and a consensus price target of $24.57.</p><p><b>Check Out Our Latest Stock Report on Avadel Pharmaceuticals</b></p><h2>Avadel Pharmaceuticals Trading Down 1.7 %</h2><p>Avadel Pharmaceuticals stock opened at $14.06 on Monday. The business's 50 day simple moving average is $16.12 and its 200 day simple moving average is $15.43. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -7.56 and a beta of 1.53. </p><p>Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.05). Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The firm had revenue of $27.18 million for the quarter, compared to analysts' expectations of $25.89 million. During the same period in the prior year, the company earned ($0.48) EPS. The firm's quarterly revenue was up 2617.8% on a year-over-year basis. As a group, equities research analysts forecast that Avadel Pharmaceuticals will post -0.58 earnings per share for the current fiscal year. </p><h2>About Avadel Pharmaceuticals</h2> (Get Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Avadel Pharmaceuticals</li><li>3 Grocery Stocks That Can Help Take a Bite Out of Inflation </li><li>3 Stocks Upgraded by Analysts: Home Depot, U.S. Steel, Alcoa</li><li>Insider Selling Explained: Can it Inform Your Investing Choices?</li><li>NVIDIA and TSM Stock: Is Semiconductor Sector Momentum Slowing?</li><li>What is the S&amp;P 500 and How It is Distinct from Other Indexes</li><li>Palo Alto Networks Stock Gains AI-Powered Cybersecurity Solutions</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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AVDL

<p>Avadel Pharmaceuticals (NASDAQ:AVDL) experienced an 11.1% increase in short interest during June, with a total of 7,200,000 shares. The days-to-cover ratio is currently 7.2 days. Several institutional investors have modified their holdings of AVDL. Wall Street analysts have given the stock a "buy" rating, with a consensus price target of $24.57. Avadel Pharmaceuticals' stock opened at $14.06 and has a market cap of $1.35 billion. The company reported a negative net margin and return on equity for the last quarter.</p>

Short Interest in Avadel Pharmaceuticals plc (NASDAQ:AVDL) Grows By 11.1%