HC Wainwright Cuts Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target to $25.00

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target decreased by HC Wainwright from $27.00 to $25.00 in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.54) EPS, FY2025 earnings at $0.41 EPS, FY2026 earnings at $1.27 EPS, FY2027 earnings at $1.67 EPS and FY2028 earnings at $1.88 EPS.

Other equities analysts have also issued reports about the company. Oppenheimer raised their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Trading Down 5.9 %

Shares of NASDAQ AVDL opened at $10.91 on Wednesday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a 1-year low of $10.39 and a 1-year high of $19.09. The stock’s 50-day moving average is $13.49 and its 200 day moving average is $15.02.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The company had revenue of $50.00 million for the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. Avadel Pharmaceuticals’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.41) EPS. On average, analysts forecast that Avadel Pharmaceuticals will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of large investors have recently made changes to their positions in AVDL. Janus Henderson Group PLC grew its position in shares of Avadel Pharmaceuticals by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after buying an additional 1,789,830 shares during the last quarter. Braidwell LP grew its position in shares of Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after buying an additional 490,300 shares during the last quarter. State Street Corp grew its position in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after buying an additional 483,787 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $4,921,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $4,575,000. 69.19% of the stock is currently 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.