Avadel Pharmaceuticals (NASDAQ:AVDL) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

A number of other equities analysts also recently weighed in on AVDL. Oppenheimer boosted their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC lowered their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. UBS Group decreased their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Piper Sandler decreased their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $19.88.

Avadel Pharmaceuticals Trading Up 0.9 %

Shares of AVDL opened at $8.99 on Tuesday. The company has a market cap of $866.28 million, a price-to-earnings ratio of -11.38 and a beta of 1.28. Avadel Pharmaceuticals has a 1-year low of $7.39 and a 1-year high of $19.09. The company’s fifty day simple moving average is $9.30 and its 200 day simple moving average is $12.28.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The firm’s revenue for the quarter was up 624.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.41) earnings per share. As a group, research analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Insider Activity at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, CEO Gregory J. Divis purchased 9,598 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $9.98 per share, for a total transaction of $95,788.04. Following the completion of the purchase, the chief executive officer now owns 9,598 shares of the company’s stock, valued at approximately $95,788.04. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Palczuk purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was acquired at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the purchase, the director now directly owns 67,900 shares of the company’s stock, valued at $538,447. This represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 55,579 shares of company stock worth $526,363. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Avadel Pharmaceuticals by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 3,953,247 shares of the company’s stock worth $41,549,000 after purchasing an additional 90,147 shares during the period. Braidwell LP lifted its position in Avadel Pharmaceuticals by 16.9% during the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after purchasing an additional 490,300 shares during the period. Wealth Effects LLC lifted its position in Avadel Pharmaceuticals by 4.9% during the fourth quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock worth $24,637,000 after purchasing an additional 110,359 shares during the period. Brandes Investment Partners LP lifted its position in Avadel Pharmaceuticals by 58.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock worth $22,840,000 after purchasing an additional 798,415 shares during the period. Finally, State Street Corp lifted its position in Avadel Pharmaceuticals by 42.5% during the third quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after purchasing an additional 483,787 shares during the period. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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.