Brokerages Set Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Target Price at $17.81

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have received a consensus rating of “Reduce” from the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.8125.

AVDL has been the subject of a number of research analyst reports. Needham & Company LLC lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Craig Hallum downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. UBS Group cut Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Zacks Research downgraded Avadel Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $23.10 on Monday. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -770.00 and a beta of 1.47. The business has a 50 day simple moving average of $17.09 and a 200 day simple moving average of $13.11. Avadel Pharmaceuticals has a 52-week low of $6.38 and a 52-week high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The company had revenue of $77.47 million during the quarter, compared to the consensus estimate of $78.05 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 55.0% compared to the same quarter last year. On average, analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in shares of Avadel Pharmaceuticals by 164.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after acquiring an additional 2,055 shares in the last quarter. Federated Hermes Inc. boosted its position in Avadel Pharmaceuticals by 195.4% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock valued at $53,000 after purchasing an additional 2,296 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Avadel Pharmaceuticals during the third quarter valued at approximately $83,000. Raymond James Financial Inc. bought a new position in Avadel Pharmaceuticals in the second quarter valued at approximately $65,000. Finally, Tower Research Capital LLC TRC increased its position 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 purchasing an additional 6,025 shares during the last quarter. 69.19% of the stock is owned by 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.