Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target Cut to $25.00 by Analysts at HC Wainwright

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price objective decreased by HC Wainwright from $27.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.54) EPS, FY2025 earnings at $0.41 EPS, FY2026 earnings at $1.27 EPS, FY2027 earnings at $1.67 EPS and FY2028 earnings at $1.88 EPS.

AVDL has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. Oppenheimer upped their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL opened at $10.91 on Wednesday. Avadel Pharmaceuticals has a 52-week low of $10.39 and a 52-week high of $19.09. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. The firm’s 50-day moving average is $13.49 and its 200-day moving average is $15.00.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. The firm’s quarterly revenue was up 624.6% compared to the same quarter last year. Equities analysts predict that Avadel Pharmaceuticals will post -0.5 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after acquiring an additional 1,789,830 shares during the period. Gendell Jeffrey L increased its stake in Avadel Pharmaceuticals by 1.7% during the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock worth $96,410,000 after acquiring an additional 92,768 shares during the period. Braidwell LP raised its holdings in Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after acquiring an additional 490,300 shares in the last quarter. State Street Corp lifted its position in shares of Avadel Pharmaceuticals by 42.5% during the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after acquiring an additional 483,787 shares during the period. Finally, Brandes Investment Partners LP grew its holdings in shares of Avadel Pharmaceuticals by 1.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock worth $20,894,000 after purchasing an additional 21,214 shares in the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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.