Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Consensus Recommendation of “Buy” from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $24.71.

Several brokerages have recently issued reports on AVDL. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of Avadel Pharmaceuticals in a research report on Thursday, October 31st. Oppenheimer raised their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, October 31st.

Institutional Trading of Avadel Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in Avadel Pharmaceuticals in the 1st quarter valued at $804,000. Lord Abbett & CO. LLC bought a new stake in Avadel Pharmaceuticals during the 1st quarter worth about $3,264,000. Cetera Investment Advisers acquired a new position in Avadel Pharmaceuticals during the 1st quarter valued at about $1,925,000. Bank of New York Mellon Corp acquired a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $4,575,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Avadel Pharmaceuticals during the first quarter worth approximately $1,943,000. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Up 2.5 %

Shares of NASDAQ:AVDL opened at $15.30 on Thursday. The company has a fifty day simple moving average of $13.65 and a 200 day simple moving average of $15.20. The firm has a market cap of $1.47 billion, a PE ratio of -13.08 and a beta of 1.47. Avadel Pharmaceuticals has a 12-month low of $10.25 and a 12-month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $41.50 million during the quarter, compared to analyst estimates of $37.47 million. Avadel Pharmaceuticals had a negative net margin of 111.64% and a negative return on equity of 122.64%. The firm’s revenue for the quarter was up 2666.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. As a group, equities research analysts forecast that Avadel Pharmaceuticals will post -0.5 EPS for the current fiscal year.

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.