Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives $18.67 Average Price Target from Brokerages

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) has earned an average recommendation of “Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $18.6667.

Several analysts have recently commented on AVDL shares. HC Wainwright restated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of Avadel Pharmaceuticals in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Avadel Pharmaceuticals in a report on Friday.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently modified their holdings of AVDL. Two Seas Capital LP lifted its holdings in Avadel Pharmaceuticals by 90.6% in the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company’s stock worth $45,156,000 after purchasing an additional 2,042,669 shares during the period. Geode Capital Management LLC lifted its stake in Avadel Pharmaceuticals by 82.3% during the second quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock valued at $19,198,000 after buying an additional 979,422 shares in the last quarter. Janus Henderson Group PLC increased its stake in Avadel Pharmaceuticals by 5.7% in the 4th quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company’s stock valued at $148,117,000 after buying an additional 753,332 shares during the period. Braidwell LP raised its position in Avadel Pharmaceuticals by 21.2% during the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company’s stock valued at $43,151,000 after acquiring an additional 716,787 shares in the last quarter. Finally, Nuveen LLC bought a new position in Avadel Pharmaceuticals during the first quarter valued at approximately $4,055,000. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Up 0.3%

NASDAQ AVDL opened at $12.79 on Friday. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $16.84. The stock has a market capitalization of $1.24 billion, a PE ratio of -426.33 and a beta of 1.47. The firm has a 50 day moving average of $10.12 and a two-hundred day moving average of $8.94.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $60.28 million. During the same quarter in the prior year, the business posted ($0.14) EPS. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. On average, equities research analysts expect that Avadel Pharmaceuticals will post -0.51 earnings per share for the current fiscal year.

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.