Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Pass Above 200 Day Moving Average – Time to Sell?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.02 and traded as high as $21.56. Avadel Pharmaceuticals shares last traded at $21.53, with a volume of 1,243,788 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. Needham & Company LLC cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Piper Sandler lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. UBS Group cut shares of Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Finally, Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.86.

Avadel Pharmaceuticals Stock Up 0.1%

The company’s 50 day moving average price is $21.72 and its 200 day moving average price is $17.02.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The firm had revenue of $77.47 million for the quarter, compared to analyst estimates of $78.05 million. Avadel Pharmaceuticals had a negative return on equity of 0.33% and a negative net margin of 0.11%.The company’s revenue for the quarter was up 55.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. Sell-side analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVDL. Nisa Investment Advisors LLC increased its holdings in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Avadel Pharmaceuticals by 195.4% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after purchasing an additional 2,296 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Avadel Pharmaceuticals in the second quarter valued at $65,000. Tower Research Capital LLC TRC raised its holdings in shares of Avadel Pharmaceuticals by 217.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after buying an additional 6,025 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Avadel Pharmaceuticals in the third quarter valued at about $83,000. 69.19% of the stock is owned by institutional investors and hedge funds.

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.