Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Rating of “Buy” from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has been assigned an average rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.17.

A number of research firms recently commented on AVDL. UBS Group initiated coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price target for the company. Craig Hallum lifted their price objective on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Piper Sandler increased their target price on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Oppenheimer increased their price objective on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, May 8th.

Get Our Latest Report on AVDL

Avadel Pharmaceuticals Trading Up 1.4 %

NASDAQ:AVDL opened at $15.70 on Thursday. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -8.44 and a beta of 1.61. The firm has a fifty day simple moving average of $16.86 and a two-hundred day simple moving average of $14.72.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Avadel Pharmaceuticals had a negative return on equity of 139.72% and a negative net margin of 284.42%. The firm had revenue of $27.18 million during the quarter, compared to the consensus estimate of $25.89 million. During the same quarter in the previous year, the company posted ($0.48) EPS. The firm’s revenue was up 2617.8% on a year-over-year basis. Equities analysts predict that Avadel Pharmaceuticals will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVDL. Janus Henderson Group PLC raised its holdings in Avadel Pharmaceuticals by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after purchasing an additional 1,789,830 shares in the last quarter. RTW Investments LP grew its holdings in Avadel Pharmaceuticals by 4.8% in the third quarter. RTW Investments LP now owns 7,136,415 shares of the company’s stock worth $73,505,000 after purchasing an additional 325,774 shares during the period. Gendell Jeffrey L increased its stake in shares of Avadel Pharmaceuticals by 1.7% during the first quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock valued at $96,410,000 after purchasing an additional 92,768 shares in the last quarter. Vivo Capital LLC lifted its holdings in shares of Avadel Pharmaceuticals by 7.0% during the third quarter. Vivo Capital LLC now owns 4,096,428 shares of the company’s stock valued at $42,193,000 after purchasing an additional 266,851 shares during the last quarter. Finally, Wealth Effects LLC boosted its position in shares of Avadel Pharmaceuticals by 0.3% in the 4th quarter. Wealth Effects LLC now owns 2,416,326 shares of the company’s stock worth $34,119,000 after purchasing an additional 7,037 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

About Avadel Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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