Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $22.57 Average PT from Brokerages

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been given a consensus rating of “Buy” by the six brokerages that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.57.

A number of research firms have recently commented on AVDL. HC Wainwright raised their price target on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Craig Hallum raised their target price on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. UBS Group started coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price target for the company. Oppenheimer raised their price objective on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Finally, Piper Sandler upped their target price on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of AVDL. Quantbot Technologies LP bought a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at $78,000. Quarry LP bought a new stake in Avadel Pharmaceuticals during the fourth quarter valued at about $120,000. Claro Advisors LLC bought a new stake in Avadel Pharmaceuticals during the first quarter valued at about $172,000. China Universal Asset Management Co. Ltd. raised its holdings in Avadel Pharmaceuticals by 349.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock worth $146,000 after purchasing an additional 8,029 shares in the last quarter. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at about $124,000. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

Avadel Pharmaceuticals stock opened at $17.82 on Friday. Avadel Pharmaceuticals has a 1-year low of $9.50 and a 1-year high of $18.85. The company’s 50-day moving average is $15.74 and its 200 day moving average is $13.86. The firm has a market capitalization of $1.61 billion, a P/E ratio of -8.74 and a beta of 1.60.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $19.45 million during the quarter, compared to analysts’ expectations of $17.41 million. During the same quarter last year, the firm posted ($0.44) EPS. Research analysts anticipate that Avadel Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.

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.