Avadel Pharmaceuticals (NASDAQ:AVDL) Given New $25.00 Price Target at HC Wainwright

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target trimmed by HC Wainwright from $27.00 to $25.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ FY2027 earnings at $1.67 EPS and FY2028 earnings at $1.88 EPS.

A number of other analysts have also issued reports on AVDL. Oppenheimer lifted their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Trading Down 2.1 %

NASDAQ:AVDL traded down $0.25 during trading hours on Wednesday, hitting $11.77. The stock had a trading volume of 86,876 shares, compared to its average volume of 1,176,958. The company has a market cap of $1.13 billion, a PE ratio of -15.21 and a beta of 1.47. The business has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $15.09. Avadel Pharmaceuticals has a 1-year low of $10.39 and a 1-year high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 92.12%. The business had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. During the same period last year, the business earned ($0.41) EPS. The business’s revenue was up 624.6% on a year-over-year basis. Research analysts expect that Avadel Pharmaceuticals will post -0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC acquired a new position in Avadel Pharmaceuticals during the 3rd quarter valued at approximately $31,000. Amalgamated Bank acquired a new position in shares of Avadel Pharmaceuticals during the second quarter valued at $45,000. Quarry LP bought a new position in shares of Avadel Pharmaceuticals during the second quarter worth about $63,000. BNP Paribas Financial Markets increased its holdings in shares of Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after acquiring an additional 1,685 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Avadel Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors.

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.