Shares of Avadel Pharmaceuticals PLC (NASDAQ:AVDL) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.74 and last traded at $2.74, with a volume of 39846 shares traded. The stock had previously closed at $2.88.
A number of equities research analysts have weighed in on AVDL shares. ValuEngine raised Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Zacks Investment Research lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Thursday, November 8th. LADENBURG THALM/SH SH set a $10.00 price target on shares of Avadel Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Finally, Laidlaw lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and set a $6.00 price target on the stock. in a research report on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $8.31.
The company has a current ratio of 3.15, a quick ratio of 3.02 and a debt-to-equity ratio of 1.74.
Several hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP increased its stake in shares of Avadel Pharmaceuticals by 27.5% in the 3rd quarter. Brandes Investment Partners LP now owns 6,335,548 shares of the company’s stock worth $27,813,000 after acquiring an additional 1,365,442 shares during the last quarter. Morgan Stanley grew its holdings in shares of Avadel Pharmaceuticals by 61.2% during the 3rd quarter. Morgan Stanley now owns 777,272 shares of the company’s stock worth $3,412,000 after purchasing an additional 295,036 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Avadel Pharmaceuticals by 34.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock worth $6,431,000 after purchasing an additional 267,270 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth $478,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Avadel Pharmaceuticals by 14.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 227,573 shares of the company’s stock worth $999,000 after purchasing an additional 29,350 shares during the period. Hedge funds and other institutional investors own 53.01% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by BBNS and is owned by of BBNS. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://baseballnewssource.com/2018/12/08/avadel-pharmaceuticals-avdl-sets-new-1-year-low-at-2-74/3065340.html.
Avadel Pharmaceuticals Company Profile (NASDAQ:AVDL)
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
Featured Story: Short Selling – Explanation For Shorting Stocks
Receive News & Ratings for Avadel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avadel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.