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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued a report on the stock in the last year is $19.43.

Several equities analysts have recently weighed in on AVDL shares. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Two Seas Capital LP boosted its stake in shares of Avadel Pharmaceuticals by 90.6% during the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company’s stock worth $45,156,000 after acquiring an additional 2,042,669 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Avadel Pharmaceuticals by 58.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock worth $22,840,000 after acquiring an additional 798,415 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Avadel Pharmaceuticals by 5.7% during the 4th quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company’s stock worth $148,117,000 after acquiring an additional 753,332 shares in the last quarter. Braidwell LP lifted its stake in Avadel Pharmaceuticals by 21.2% in the 4th quarter. Braidwell LP now owns 4,105,726 shares of the company’s stock valued at $43,151,000 after buying an additional 716,787 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Avadel Pharmaceuticals in the 1st quarter valued at approximately $4,055,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ:AVDL opened at $9.13 on Monday. The business’s 50-day moving average is $8.30 and its 200 day moving average is $9.09. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $17.30. The firm has a market capitalization of $883.23 million, a P/E ratio of -11.56 and a beta of 1.40.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business had revenue of $52.51 million for the quarter, compared to analyst estimates of $50.57 million. During the same period in the prior year, the company earned ($0.30) earnings per share. The company’s revenue was up 93.2% on a year-over-year basis. On average, analysts expect that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Avadel Pharmaceuticals Company Profile

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.