Avadel Pharmaceuticals (NASDAQ:AVDL) Downgraded by Piper Sandler to “Hold”

Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by Piper Sandler from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avadel Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 28th. Craig Hallum downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS Group upped their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Finally, Jefferies Financial Group cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $20.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.72.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock opened at $18.56 on Wednesday. The company’s 50 day simple moving average is $15.21 and its 200 day simple moving average is $11.50. Avadel Pharmaceuticals has a fifty-two week low of $6.38 and a fifty-two week high of $18.65. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -618.67 and a beta of 1.46.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The business had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. During the same quarter last year, the firm earned ($0.14) EPS. Avadel Pharmaceuticals’s quarterly revenue was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Avadel Pharmaceuticals by 164.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after buying an additional 2,055 shares during the period. Raymond James Financial Inc. acquired a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at approximately $65,000. Tower Research Capital LLC TRC boosted its holdings in shares of Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after buying an additional 6,025 shares in the last quarter. Exencial Wealth Advisors LLC bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $82,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $82,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

About Avadel Pharmaceuticals

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.