Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) fell 3.9% on Wednesday after HC Wainwright lowered their price target on the stock from $27.00 to $25.00. HC Wainwright currently has a buy rating on the stock. Avadel Pharmaceuticals traded as low as $12.60 and last traded at $12.64. 140,610 shares traded hands during trading, a decline of 88% from the average session volume of 1,162,083 shares. The stock had previously closed at $13.15.
Other equities research analysts also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday. Oppenheimer upped their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $24.43.
Read Our Latest Report on Avadel Pharmaceuticals
Institutional Trading of Avadel Pharmaceuticals
Avadel Pharmaceuticals Stock Down 8.6 %
The company has a market cap of $1.16 billion, a P/E ratio of -15.21 and a beta of 1.47. The stock has a 50 day moving average price of $13.62 and a two-hundred day moving average price of $15.09.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last announced 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 company had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 92.12% and a negative net margin of 52.53%. The firm’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.41) earnings per share. Equities analysts anticipate that Avadel Pharmaceuticals plc will post -0.5 EPS for the current year.
About Avadel Pharmaceuticals
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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