Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Recommendation of “Buy” from Brokerages


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Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $16.56.

A number of research analysts have issued reports on the stock. Lifesci Capital restated an “outperform” rating on shares of Avadel Pharmaceuticals in a research note on Monday, November 9th. Zacks Investment Research cut Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine upgraded shares of Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, December 8th. Finally, BidaskClub raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 5th.

Shares of AVDL opened at $6.71 on Thursday. The company has a current ratio of 12.24, a quick ratio of 12.24 and a debt-to-equity ratio of 0.74. The firm has a market cap of $391.01 million, a PE ratio of 33.55 and a beta of 1.55. Avadel Pharmaceuticals has a 12 month low of $4.00 and a 12 month high of $13.49. The stock has a fifty day moving average price of $6.99 and a 200-day moving average price of $6.79.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Saturday, November 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.05. Avadel Pharmaceuticals had a negative return on equity of 33.91% and a net margin of 38.70%. As a group, research analysts forecast that Avadel Pharmaceuticals will post -0.69 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. UBS Group AG boosted its position in shares of Avadel Pharmaceuticals by 45.6% during the 2nd quarter. UBS Group AG now owns 4,694 shares of the company’s stock valued at $38,000 after acquiring an additional 1,469 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Avadel Pharmaceuticals by 70.2% in the second quarter. California Public Employees Retirement System now owns 131,017 shares of the company’s stock valued at $1,059,000 after acquiring an additional 54,017 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in Avadel Pharmaceuticals in the second quarter worth approximately $115,000. Advisor Group Holdings Inc. grew its position in Avadel Pharmaceuticals by 757.1% in the second quarter. Advisor Group Holdings Inc. now owns 6,000 shares of the company’s stock worth $48,000 after acquiring an additional 5,300 shares during the period. Finally, Bank of America Corp DE increased its stake in Avadel Pharmaceuticals by 450.2% during the second quarter. Bank of America Corp DE now owns 16,505 shares of the company’s stock worth $133,000 after acquiring an additional 13,505 shares during the last quarter. Institutional investors and hedge funds own 53.78% of the company’s stock.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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