Avadel Pharmaceuticals (NASDAQ:AVDL) Cut to “Hold” at Craig Hallum

Craig Hallum lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on AVDL. Needham & Company LLC cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Leerink Partners reissued a “market perform” rating and set a $18.50 price objective on shares of Avadel Pharmaceuticals in a research note on Thursday. Finally, HC Wainwright cut shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.72.

Avadel Pharmaceuticals Stock Performance

AVDL stock opened at $18.56 on Wednesday. The stock has a market capitalization of $1.80 billion, a P/E ratio of -618.67 and a beta of 1.46. Avadel Pharmaceuticals has a one year low of $6.38 and a one year high of $18.65. The company has a 50 day moving average price of $15.31 and a two-hundred day moving average price of $11.58.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $68.13 million during the quarter, compared to analysts’ expectations of $60.28 million. During the same period in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Avadel Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position 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 purchasing an additional 2,055 shares during the period. Raymond James Financial Inc. purchased a new stake in Avadel Pharmaceuticals during the 2nd quarter worth $65,000. Tower Research Capital LLC TRC boosted its position in 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 purchasing an additional 6,025 shares during the period. Thoroughbred Financial Services LLC acquired a new position in Avadel Pharmaceuticals in the 1st quarter worth $82,000. Finally, Exencial Wealth Advisors LLC acquired a new position in Avadel Pharmaceuticals in the 1st quarter worth $82,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

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.