Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Given Consensus Rating of “Hold” by Analysts

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have been given a consensus recommendation of “Hold” by the twelve research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.00.

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday, December 29th. Wells Fargo & Company boosted their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a report on Thursday, November 20th. UBS Group lowered shares of Avadel Pharmaceuticals to a “neutral” rating in a report on Tuesday, October 28th. Finally, Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th.

Avadel Pharmaceuticals Stock Down 1.1%

NASDAQ AVDL opened at $21.39 on Wednesday. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $23.57. The firm’s 50-day simple moving average is $21.51 and its two-hundred day simple moving average is $18.86.

Institutional Trading of Avadel Pharmaceuticals

Several large investors have recently modified their holdings of AVDL. Brandes Investment Partners LP raised its position in Avadel Pharmaceuticals by 14.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after purchasing an additional 820,467 shares during the last quarter. Two Seas Capital LP increased its stake in shares of Avadel Pharmaceuticals by 24.4% during the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after buying an additional 1,208,625 shares during the period. Vanguard Group Inc. raised its holdings in shares of Avadel Pharmaceuticals by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 5,864,781 shares of the company’s stock valued at $126,386,000 after acquiring an additional 258,499 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Avadel Pharmaceuticals during the fourth quarter valued at approximately $97,301,000. Finally, TIG Advisors LLC purchased a new stake in Avadel Pharmaceuticals in the fourth quarter worth $83,164,000. 69.19% of the stock is owned by institutional investors.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.