Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $19.88 Average Price Target from Analysts

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.88.

A number of analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 target price on the stock. Piper Sandler cut their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. UBS Group decreased their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th.

Insider Activity at Avadel Pharmaceuticals

In related news, Director Linda Palczuk bought 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, with a total value of $39,650.00. Following the completion of the purchase, the director now owns 67,900 shares in the company, valued at $538,447. This represents a 7.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter J. Thornton purchased 10,000 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average price of $8.04 per share, with a total value of $80,400.00. Following the completion of the acquisition, the director now directly owns 104,055 shares of the company’s stock, valued at approximately $836,602.20. This represents a 10.63 % increase in their position. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds have recently made changes to their positions in AVDL. FMR LLC acquired a new position in shares of Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Hsbc Holdings PLC acquired a new position in Avadel Pharmaceuticals in the 4th quarter valued at approximately $113,000. Kazazian Asset Management LLC bought a new position in shares of Avadel Pharmaceuticals during the fourth quarter valued at $126,000. Sanctuary Advisors LLC bought a new position in shares of Avadel Pharmaceuticals during the fourth quarter valued at $140,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth $163,000. 69.19% of the stock is owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Price Performance

AVDL opened at $7.68 on Friday. The company has a market capitalization of $742.11 million, a PE ratio of -9.72 and a beta of 1.52. The business has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $10.11. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $19.09.

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.