Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Consensus Rating of “Buy” from Brokerages

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have received a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.57.

Several research firms have recently issued reports on AVDL. Rodman & Renshaw assumed coverage on Avadel Pharmaceuticals in a research note on Wednesday, June 12th. They issued a “buy” rating and a $27.00 price objective for the company. HC Wainwright upped their price target on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Craig Hallum lifted their price target on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Wednesday, May 8th.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ:AVDL opened at $14.53 on Friday. Avadel Pharmaceuticals has a one year low of $9.50 and a one year high of $19.09. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -7.81 and a beta of 1.52. The firm has a 50 day simple moving average of $15.84 and a 200 day simple moving average of $15.43.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $25.89 million. Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The company’s revenue was up 2617.8% compared to the same quarter last year. During the same period last year, the business earned ($0.48) EPS. As a group, analysts expect that Avadel Pharmaceuticals will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently bought and sold shares of AVDL. Kennedy Capital Management LLC raised its position in shares of Avadel Pharmaceuticals by 60.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 715,424 shares of the company’s stock worth $7,369,000 after acquiring an additional 268,704 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in 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 buying an additional 8,029 shares during the period. Iridian Asset Management LLC CT lifted its stake in Avadel Pharmaceuticals by 17.3% in the fourth quarter. Iridian Asset Management LLC CT now owns 53,451 shares of the company’s stock valued at $755,000 after buying an additional 7,865 shares during the period. Wealth Effects LLC boosted its holdings in shares of Avadel Pharmaceuticals by 0.3% during the 4th quarter. Wealth Effects LLC now owns 2,416,326 shares of the company’s stock worth $34,119,000 after buying an additional 7,037 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $1,503,000. 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.