Avadel Pharmaceuticals plc (NASDAQ:AVDL) Given Average Recommendation of “Buy” by Brokerages

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.57.

Several brokerages have recently weighed in on AVDL. UBS Group assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price objective for the company. HC Wainwright lifted their price target on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Oppenheimer lifted their price target on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Craig Hallum lifted their price target on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Needham & Company LLC lifted their price target on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

View Our Latest Stock Analysis on Avadel Pharmaceuticals

Insiders Place Their Bets

In related news, CFO Thomas S. Mchugh acquired 2,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was purchased at an average cost of $14.50 per share, for a total transaction of $29,000.00. Following the completion of the transaction, the chief financial officer now directly owns 80,500 shares of the company’s stock, valued at approximately $1,167,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. UniSuper Management Pty Ltd acquired a new stake in shares of Avadel Pharmaceuticals in the second quarter valued at approximately $13,524,000. Balyasny Asset Management L.P. acquired a new stake in shares of Avadel Pharmaceuticals in the fourth quarter valued at approximately $11,035,000. Samsara BioCapital LLC raised its position in shares of Avadel Pharmaceuticals by 113.7% in the first quarter. Samsara BioCapital LLC now owns 1,409,409 shares of the company’s stock valued at $12,910,000 after buying an additional 750,000 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Avadel Pharmaceuticals in the first quarter valued at approximately $5,404,000. Finally, Bank of America Corp DE raised its position in shares of Avadel Pharmaceuticals by 553.2% in the first quarter. Bank of America Corp DE now owns 692,226 shares of the company’s stock valued at $6,341,000 after buying an additional 586,247 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ AVDL opened at $16.41 on Wednesday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -8.04 and a beta of 1.60. The business has a 50-day moving average of $14.96 and a 200-day moving average of $13.22. Avadel Pharmaceuticals has a fifty-two week low of $8.20 and a fifty-two week high of $17.47.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $19.45 million during the quarter, compared to the consensus estimate of $17.41 million. During the same period last year, the firm earned ($0.44) EPS. On average, sell-side analysts expect that Avadel Pharmaceuticals will post -0.46 EPS for the current year.

Avadel Pharmaceuticals Company Profile

(Get Free Report

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.

Featured Articles

Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

Receive News & Ratings for Avadel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avadel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.