Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report)’s share price gapped up before the market opened on Thursday after Oppenheimer raised their price target on the stock from $29.00 to $30.00. The stock had previously closed at $12.91, but opened at $16.48. Oppenheimer currently has an outperform rating on the stock. Avadel Pharmaceuticals shares last traded at $15.03, with a volume of 2,090,891 shares changing hands.
Several other equities analysts also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Avadel Pharmaceuticals in a research report on Monday, October 21st. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.71.
View Our Latest Research Report on Avadel Pharmaceuticals
Institutional Investors Weigh In On Avadel Pharmaceuticals
Avadel Pharmaceuticals Trading Down 2.7 %
The firm has a market capitalization of $1.45 billion, a P/E ratio of -12.86 and a beta of 1.50. The business’s fifty day moving average is $13.72 and its 200 day moving average is $15.28.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $41.50 million during the quarter, compared to the consensus estimate of $37.47 million. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The company’s quarterly revenue was up 2666.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.70) EPS. As a group, sell-side analysts predict that Avadel Pharmaceuticals plc will post -0.5 earnings per share for the current fiscal year.
About Avadel Pharmaceuticals
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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