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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.43.

A number of research firms recently commented on AVDL. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. Oppenheimer upped their price target 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, HC Wainwright decreased their price objective on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

Insider Activity at Avadel Pharmaceuticals

In other news, Director Geoffrey Michael Glass purchased 20,279 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was purchased at an average cost of $9.84 per share, with a total value of $199,545.36. Following the acquisition, the director now directly owns 75,904 shares in the company, valued at approximately $746,895.36. This trade represents a 36.46 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas S. Mchugh purchased 5,000 shares of Avadel Pharmaceuticals stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $10.49 per share, with a total value of $52,450.00. Following the completion of the transaction, the chief financial officer now directly owns 85,500 shares in the company, valued at approximately $896,895. This represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 40,579 shares of company stock worth $406,313. 4.80% of the stock is owned by company insiders.

Institutional Trading of Avadel Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Braidwell LP raised its stake in Avadel Pharmaceuticals by 16.9% in the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after purchasing an additional 490,300 shares in the last quarter. State Street Corp increased its holdings in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after buying an additional 483,787 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Avadel Pharmaceuticals by 1.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after buying an additional 21,214 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of Avadel Pharmaceuticals by 23.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock valued at $6,414,000 after buying an additional 94,239 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock worth $5,150,000 after acquiring an additional 123,430 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Up 3.7 %

Shares of NASDAQ AVDL opened at $10.61 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of -13.43 and a beta of 1.32. The stock’s 50 day moving average price is $12.01 and its 200-day moving average price is $13.89. Avadel Pharmaceuticals has a twelve month low of $9.41 and a twelve month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business’s revenue for the quarter was up 624.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.41) EPS. As a group, research analysts expect that Avadel Pharmaceuticals will post -0.48 EPS for the current fiscal 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.