Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Rating of “Buy” from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have covered the stock in the last year is $24.17.

AVDL has been the subject of a number of analyst reports. Oppenheimer raised their price objective on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Piper Sandler raised their price target on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Craig Hallum boosted their price objective on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Wednesday, May 8th. Finally, HC Wainwright boosted their price target on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th.

Read Our Latest Stock Analysis on Avadel Pharmaceuticals

Avadel Pharmaceuticals Trading Down 0.8 %

Shares of AVDL stock opened at $15.13 on Monday. The company’s fifty day moving average price is $16.64 and its 200-day moving average price is $15.18. The stock has a market cap of $1.45 billion, a PE ratio of -8.13 and a beta of 1.75. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The business had revenue of $27.18 million for the quarter, compared to the consensus estimate of $25.89 million. During the same period in the prior year, the business posted ($0.48) EPS. Avadel Pharmaceuticals’s revenue for the quarter was up 2617.8% on a year-over-year basis. On average, sell-side analysts forecast that Avadel Pharmaceuticals will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC bought a new position in Avadel Pharmaceuticals in the 1st quarter worth $51,000. BNP Paribas Financial Markets lifted its position in shares of Avadel Pharmaceuticals by 60.5% during the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after buying an additional 1,685 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Avadel Pharmaceuticals during the 3rd quarter valued at approximately $78,000. Quarry LP purchased a new stake in Avadel Pharmaceuticals in the 4th quarter worth approximately $120,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Avadel Pharmaceuticals by 349.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock worth $146,000 after acquiring an additional 8,029 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Company Profile

(Get Free Report

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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