Avadel Pharmaceuticals (NASDAQ:AVDL) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.37 and traded as high as $15.53. Avadel Pharmaceuticals shares last traded at $14.81, with a volume of 1,369,683 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wall Street Zen raised shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. UBS Group raised their target price on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. HC Wainwright reissued a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $19.67.

Avadel Pharmaceuticals Stock Performance

The business’s 50 day moving average is $11.00 and its 200 day moving average is $9.37. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -493.67 and a beta of 1.47.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The company had revenue of $68.13 million during the quarter, compared to analysts’ expectations of $60.28 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. Avadel Pharmaceuticals’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in Avadel Pharmaceuticals by 164.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after purchasing an additional 2,055 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Avadel Pharmaceuticals in the 2nd quarter worth approximately $65,000. Tower Research Capital LLC TRC raised its position in Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after buying an additional 6,025 shares during the last quarter. Exencial Wealth Advisors LLC acquired a new stake in Avadel Pharmaceuticals during the 1st quarter valued at approximately $82,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in Avadel Pharmaceuticals during the 1st quarter valued at approximately $82,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.