Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Cross Above 200-Day Moving Average – What’s Next?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.63 and traded as high as $21.76. Avadel Pharmaceuticals shares last traded at $21.39, with a volume of 35,016,239 shares traded.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a report on Monday, December 29th. Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. UBS Group lowered shares of Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company increased their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.00.

Avadel Pharmaceuticals Stock Down 1.1%

The business’s fifty day moving average is $21.51 and its 200-day moving average is $18.63.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. purchased a new position in shares of Avadel Pharmaceuticals during the 4th quarter valued at about $27,000. Nisa Investment Advisors LLC raised its stake in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after acquiring an additional 2,055 shares during the period. Federated Hermes Inc. lifted its holdings in Avadel Pharmaceuticals by 195.4% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock valued at $53,000 after purchasing an additional 2,296 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Avadel Pharmaceuticals in the third quarter worth approximately $83,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Avadel Pharmaceuticals in the second quarter worth $65,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

About Avadel Pharmaceuticals

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.