Avadel Pharmaceuticals (NASDAQ:AVDL) Downgraded by Stifel Nicolaus to “Hold”

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Briefing.com reports. They currently have a $2.00 price objective on the stock, down from their prior price objective of $9.00. Stifel Nicolaus’ price target would indicate a potential upside of 60.00% from the stock’s current price.

A number of other research firms also recently commented on AVDL. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Avadel Pharmaceuticals in a report on Friday, March 18th. Zacks Investment Research upgraded shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Finally, Craig Hallum cut their price objective on shares of Avadel Pharmaceuticals from $22.50 to $20.00 in a report on Thursday, March 17th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.50.

Shares of AVDL traded down $2.13 during mid-day trading on Thursday, hitting $1.25. 299,119 shares of the company were exchanged, compared to its average volume of 555,779. Avadel Pharmaceuticals has a 1-year low of $3.16 and a 1-year high of $11.59. The company has a debt-to-equity ratio of 2.11, a quick ratio of 3.65 and a current ratio of 3.65. The company has a 50 day moving average of $5.66 and a 200-day moving average of $7.00. The stock has a market cap of $73.79 million, a price-to-earnings ratio of -0.81 and a beta of 1.13.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.01). Research analysts anticipate that Avadel Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $26,000. Engineers Gate Manager LP purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $79,000. Cetera Advisor Networks LLC purchased a new position in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $103,000. National Asset Management Inc. purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $103,000. Finally, Compagnie Lombard Odier SCmA boosted its position in shares of Avadel Pharmaceuticals by 216.7% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 19,000 shares of the company’s stock worth $130,000 after purchasing an additional 13,000 shares during the period. Institutional investors and hedge funds own 59.18% of the company’s stock.

Avadel Pharmaceuticals Company Profile (Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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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