HC Wainwright Lowers Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target to $25.00

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target cut by equities researchers at HC Wainwright from $27.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 115.70% from the stock’s previous close. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ FY2027 earnings at $1.67 EPS and FY2028 earnings at $1.88 EPS.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday. Oppenheimer increased their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Trading Down 3.6 %

NASDAQ:AVDL opened at $11.59 on Wednesday. The company has a market cap of $1.12 billion, a P/E ratio of -14.67 and a beta of 1.47. Avadel Pharmaceuticals has a twelve month low of $10.39 and a twelve month high of $19.09. The company’s 50-day moving average price is $13.62 and its 200-day moving average price is $15.09.

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 the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 92.12% and a negative net margin of 52.53%. The business’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) EPS. On average, analysts expect that Avadel Pharmaceuticals will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FMR LLC purchased a new stake in Avadel Pharmaceuticals in the third quarter valued at $31,000. Amalgamated Bank purchased a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at about $45,000. Quarry LP purchased a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at about $63,000. BNP Paribas Financial Markets boosted its position in shares of Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after purchasing an additional 1,685 shares during the period. Finally, Advisors Asset Management Inc. grew its stake in Avadel Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock worth $104,000 after buying an additional 2,846 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

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.