Avadel Pharmaceuticals (NASDAQ:AVDL) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. UBS Group upped their price target on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Zacks Research upgraded shares of Avadel Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.86.

Avadel Pharmaceuticals Stock Performance

AVDL opened at $15.76 on Wednesday. The firm’s 50-day simple moving average is $12.00 and its 200-day simple moving average is $9.74. Avadel Pharmaceuticals has a twelve month low of $6.38 and a twelve month high of $16.66. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -525.33 and a beta of 1.58.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The business had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The firm’s quarterly revenue was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AVDL. Nisa Investment Advisors LLC lifted its position in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares during the period. Raymond James Financial Inc. acquired a new position in Avadel Pharmaceuticals during the 2nd quarter valued at about $65,000. Tower Research Capital LLC TRC lifted its position in Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after purchasing an additional 6,025 shares during the period. Exencial Wealth Advisors LLC acquired a new position in Avadel Pharmaceuticals during the 1st quarter valued at about $82,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Avadel Pharmaceuticals during the first quarter worth $82,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.