Avadel Pharmaceuticals plc (NASDAQ:AVDL) Given Average Rating of “Buy” by Brokerages

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has received an average rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $24.43.

Several equities analysts have issued reports on AVDL shares. Oppenheimer boosted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright cut their price objective on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its holdings in Avadel Pharmaceuticals by 8.2% during the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after acquiring an additional 938 shares in the last quarter. MAI Capital Management increased its stake in shares of Avadel Pharmaceuticals by 1.0% during the 3rd quarter. MAI Capital Management now owns 107,533 shares of the company’s stock worth $1,410,000 after purchasing an additional 1,031 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Avadel Pharmaceuticals by 2.4% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,475 shares of the company’s stock worth $1,258,000 after purchasing an additional 2,100 shares during the last quarter. Modera Wealth Management LLC lifted its stake in Avadel Pharmaceuticals by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock valued at $8,473,000 after buying an additional 2,159 shares in the last quarter. Finally, FMR LLC acquired a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock opened at $11.06 on Monday. The business has a 50 day simple moving average of $12.95 and a 200-day simple moving average of $14.55. Avadel Pharmaceuticals has a 12 month low of $10.41 and a 12 month high of $19.09. The stock has a market capitalization of $1.07 billion, a PE ratio of -14.00 and a beta of 1.47.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business’s revenue was up 624.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.41) EPS. As a group, equities research analysts anticipate that Avadel Pharmaceuticals will post -0.48 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.