Avadel Pharmaceuticals (NASDAQ:AVDL) Now Covered by UBS Group

UBS Group began coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 42.76% from the company’s current price.

Separately, Needham & Company LLC upped their target price on Avadel Pharmaceuticals from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $19.86.

Get Our Latest Stock Analysis on Avadel Pharmaceuticals

Avadel Pharmaceuticals Stock Down 4.5 %

NASDAQ:AVDL opened at $14.71 on Tuesday. The firm has a 50 day moving average of $14.30 and a 200 day moving average of $12.76. Avadel Pharmaceuticals has a 52 week low of $7.41 and a 52 week high of $17.24. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.81 and a beta of 1.57.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $5.12 million. The firm’s revenue was up 3400.0% on a year-over-year basis. During the same period last year, the firm posted ($0.33) EPS. As a group, analysts expect that Avadel Pharmaceuticals will post -1.84 EPS for the current year.

Insider Activity at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, Director Mark Anthony Mccamish sold 75,000 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the transaction, the director now directly owns 67,025 shares in the company, valued at $973,873.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Avadel Pharmaceuticals news, Director Mark Anthony Mccamish sold 75,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the transaction, the director now owns 67,025 shares of the company’s stock, valued at approximately $973,873.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas S. Mchugh bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was purchased at an average cost of $14.50 per share, for a total transaction of $29,000.00. Following the completion of the transaction, the chief financial officer now directly owns 80,500 shares in the company, valued at approximately $1,167,250. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. RTW Investments LP lifted its position in shares of Avadel Pharmaceuticals by 4.8% during the 3rd quarter. RTW Investments LP now owns 7,136,415 shares of the company’s stock valued at $73,505,000 after acquiring an additional 325,774 shares during the last quarter. Gendell Jeffrey L raised its holdings in Avadel Pharmaceuticals by 4.1% in the 3rd quarter. Gendell Jeffrey L now owns 5,615,350 shares of the company’s stock valued at $57,838,000 after acquiring an additional 219,290 shares in the last quarter. Vivo Capital LLC raised its position in Avadel Pharmaceuticals by 7.0% in the third quarter. Vivo Capital LLC now owns 4,096,428 shares of the company’s stock worth $42,193,000 after purchasing an additional 266,851 shares in the last quarter. Polar Capital Holdings Plc increased its position in shares of Avadel Pharmaceuticals by 14.5% during the 1st quarter. Polar Capital Holdings Plc now owns 3,199,152 shares of the company’s stock worth $21,850,000 after purchasing an additional 404,479 shares in the last quarter. Finally, Wealth Effects LLC grew its holdings in shares of Avadel Pharmaceuticals by 0.3% during the fourth quarter. Wealth Effects LLC now owns 2,416,326 shares of the company’s stock worth $34,119,000 after purchasing an additional 7,037 shares during the last quarter. Institutional investors own 71.23% of the company’s stock.

About Avadel Pharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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