Avadel Pharmaceuticals (NASDAQ:AVDL) Sets New 12-Month Low – Should You Sell?

Avadel Pharmaceuticals plc (NASDAQ:AVDL)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $10.44 and last traded at $10.76, with a volume of 267832 shares changing hands. The stock had previously closed at $10.91.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVDL. Oppenheimer increased their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. Finally, HC Wainwright lowered their price target on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.43.

Avadel Pharmaceuticals Stock Performance

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -13.57 and a beta of 1.47. The firm’s 50-day moving average price is $13.34 and its two-hundred day moving average price is $14.86.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $50.00 million during 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 quarterly revenue was up 624.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) EPS. As a group, equities research analysts anticipate that Avadel Pharmaceuticals plc will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in Avadel Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after acquiring an additional 1,789,830 shares during the last quarter. Gendell Jeffrey L raised its position in Avadel Pharmaceuticals by 1.7% in the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock worth $96,410,000 after purchasing an additional 92,768 shares during the last quarter. Braidwell LP lifted its holdings in Avadel Pharmaceuticals by 16.9% during 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 in the last quarter. State Street Corp boosted its position in Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares during the last quarter. Finally, Brandes Investment Partners LP increased its stake in shares of Avadel Pharmaceuticals by 1.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after buying an additional 21,214 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.

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.