Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives $19.67 Consensus PT from Analysts

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) has received a consensus recommendation of “Buy” from the nine analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $20.8571.

Several brokerages have commented on AVDL. Lifesci Capital upgraded Avadel Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday. UBS Group increased their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company upgraded Avadel Pharmaceuticals to a “hold” rating in a research note on Wednesday. Finally, HC Wainwright increased their target price on Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a “buy” rating in a research note on Friday.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ:AVDL opened at $15.76 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of -525.33 and a beta of 1.58. The business has a 50-day moving average of $12.00 and a two-hundred day moving average of $9.74. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $16.66.

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

Institutional Investors Weigh In On Avadel Pharmaceuticals

Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of Avadel Pharmaceuticals by 164.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after buying an additional 2,055 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Avadel Pharmaceuticals in the second quarter valued at about $65,000. Tower Research Capital LLC TRC boosted its holdings in Avadel Pharmaceuticals by 217.5% in the second 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 last quarter. Exencial Wealth Advisors LLC purchased a new position in Avadel Pharmaceuticals in the first quarter valued at about $82,000. Finally, Thoroughbred Financial Services LLC purchased a new position in Avadel Pharmaceuticals in the first quarter valued at about $82,000. Institutional investors and hedge funds 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.