Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Rating of “Buy” from Brokerages

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.57.

AVDL has been the subject of a number of research analyst reports. Rodman & Renshaw initiated coverage on Avadel Pharmaceuticals in a research report on Wednesday, June 12th. They issued a “buy” rating and a $27.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, September 4th.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVDL. Amalgamated Bank purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth approximately $45,000. Chilton Capital Management LLC purchased a new position in shares of Avadel Pharmaceuticals in the 1st quarter worth approximately $51,000. Quarry LP purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth approximately $63,000. BNP Paribas Financial Markets boosted its stake 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 buying an additional 1,685 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth approximately $146,000. 69.19% of the stock is owned by institutional investors.

Avadel Pharmaceuticals Trading Down 0.7 %

AVDL stock opened at $12.78 on Wednesday. Avadel Pharmaceuticals has a 1-year low of $9.50 and a 1-year high of $19.09. The firm has a market cap of $1.23 billion, a PE ratio of -6.87 and a beta of 1.53. The stock has a 50-day moving average price of $15.36 and a 200-day moving average price of $15.89.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The business had revenue of $41.50 million during the quarter, compared to analyst estimates of $37.47 million. During the same period in the previous year, the company posted ($0.70) EPS. The firm’s revenue was up 2666.7% compared to the same quarter last year. On average, analysts forecast that Avadel Pharmaceuticals will post -0.5 earnings per share for the current year.

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.