Analysts Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) PT at $19.88

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.88.

Several equities analysts have weighed in on AVDL shares. Needham & Company LLC cut their target price on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Oppenheimer upped their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler dropped their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. Finally, UBS Group dropped their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, January 13th.

Avadel Pharmaceuticals Trading Down 4.2 %

Avadel Pharmaceuticals stock opened at $8.61 on Friday. Avadel Pharmaceuticals has a 1-year low of $7.39 and a 1-year high of $19.09. The firm’s fifty day simple moving average is $9.23 and its 200-day simple moving average is $12.09. The company has a market capitalization of $829.66 million, a P/E ratio of -10.90 and a beta of 1.28.

Insider Buying and Selling

In other news, Director Linda Palczuk purchased 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of $7.93 per share, with a total value of $39,650.00. Following the acquisition, the director now directly owns 67,900 shares in the company, valued at approximately $538,447. The trade was a 7.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter J. Thornton acquired 10,000 shares of Avadel Pharmaceuticals stock in a transaction on Monday, January 13th. The stock was purchased at an average price of $8.04 per share, with a total value of $80,400.00. Following the transaction, the director now directly owns 104,055 shares in the company, valued at approximately $836,602.20. This trade represents a 10.63 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 55,579 shares of company stock valued at $526,363. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Avadel Pharmaceuticals in the 3rd quarter worth approximately $164,000. Creative Planning raised its stake in Avadel Pharmaceuticals by 8.2% during the third quarter. Creative Planning now owns 12,381 shares of the company’s stock worth $162,000 after acquiring an additional 938 shares in the last quarter. Claro Advisors LLC lifted its holdings in shares of Avadel Pharmaceuticals by 379.2% during the third quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock valued at $644,000 after acquiring an additional 38,837 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Avadel Pharmaceuticals by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock valued at $243,000 after purchasing an additional 7,224 shares in the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in shares of Avadel Pharmaceuticals by 8.3% in the 3rd quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock worth $418,000 after purchasing an additional 2,432 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

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.