Avadel Pharmaceuticals (NASDAQ:AVDL) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research report report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $12.00 target price on the stock.

AVDL has been the topic of several other research reports. Piper Sandler cut their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. UBS Group cut their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Needham & Company LLC lowered their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price (down from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Finally, Oppenheimer boosted their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $19.88.

Avadel Pharmaceuticals Trading Down 1.0 %

AVDL stock opened at $9.00 on Tuesday. The stock has a market capitalization of $867.24 million, a P/E ratio of -11.39 and a beta of 1.28. The firm has a 50-day moving average price of $9.32 and a 200-day moving average price of $12.30. Avadel Pharmaceuticals has a 12 month low of $7.39 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results 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 firm had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company’s quarterly revenue was up 624.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) earnings per share. As a group, equities analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Insider Transactions at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, CEO Gregory J. Divis bought 9,598 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were bought at an average price of $9.98 per share, for a total transaction of $95,788.04. Following the transaction, the chief executive officer now directly owns 9,598 shares in the company, valued at approximately $95,788.04. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thomas S. Mchugh bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $10.49 per share, with a total value of $52,450.00. Following the purchase, the chief financial officer now directly owns 85,500 shares of the company’s stock, valued at $896,895. This trade represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 55,579 shares of company stock worth $526,363. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in Avadel Pharmaceuticals in the second quarter valued at $590,000. SG Americas Securities LLC bought a new stake in Avadel Pharmaceuticals in the 3rd quarter valued at about $164,000. Creative Planning increased its position in Avadel Pharmaceuticals by 8.2% in the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after buying an additional 938 shares in the last quarter. Edge Wealth Management LLC acquired a new position in Avadel Pharmaceuticals during the 3rd quarter worth approximately $262,000. Finally, Claro Advisors LLC boosted its holdings in Avadel Pharmaceuticals by 379.2% in the third quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock worth $644,000 after acquiring an additional 38,837 shares in the last quarter. 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.