Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives Consensus Recommendation of “Hold” from Analysts

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) has received an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.8571.

AVDL has been the topic of several recent research reports. UBS Group downgraded Avadel Pharmaceuticals to a “neutral” rating in a research report on Tuesday, October 28th. Jefferies Financial Group downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Wednesday, October 22nd. Needham & Company LLC cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Leerink Partners downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday, December 29th.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Two Seas Capital LP increased its stake in Avadel Pharmaceuticals by 24.4% in the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after purchasing an additional 1,208,625 shares during the last quarter. Bank of America Corp DE boosted its stake in Avadel Pharmaceuticals by 828.2% in the 3rd quarter. Bank of America Corp DE now owns 1,338,742 shares of the company’s stock worth $20,443,000 after buying an additional 1,194,509 shares during the last quarter. Geode Capital Management LLC boosted its stake in Avadel Pharmaceuticals by 82.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after buying an additional 979,422 shares during the last quarter. Brandes Investment Partners LP grew its holdings in Avadel Pharmaceuticals by 14.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after buying an additional 820,467 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Avadel Pharmaceuticals by 1,407.6% during the 2nd quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock valued at $6,628,000 after acquiring an additional 699,201 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Down 0.0%

Shares of NASDAQ AVDL opened at $21.55 on Friday. The firm’s 50-day moving average is $21.54 and its two-hundred day moving average is $17.52. Avadel Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The business had revenue of $77.47 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. As a group, equities analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

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.