Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Consensus Recommendation of “Buy” from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been assigned an average rating of “Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price target among analysts that have covered the stock in the last year is $19.88.

AVDL has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Monday, March 3rd. Piper Sandler cut their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. UBS Group cut their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th.

Insider Activity at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, Director Linda Palczuk bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, with a total value of $39,650.00. Following the completion of the acquisition, the director now directly owns 67,900 shares of the company’s stock, valued at $538,447. This represents a 7.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter J. Thornton bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average cost of $8.04 per share, for a total transaction of $80,400.00. Following the acquisition, the director now directly owns 104,055 shares of the company’s stock, valued at $836,602.20. The trade was a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Creative Planning increased its holdings in Avadel Pharmaceuticals by 8.2% in the third quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after buying an additional 938 shares during the last quarter. MAI Capital Management boosted its stake in Avadel Pharmaceuticals by 1.0% in the third quarter. MAI Capital Management now owns 107,533 shares of the company’s stock valued at $1,410,000 after acquiring an additional 1,031 shares in the last quarter. Invesco Ltd. boosted its stake in Avadel Pharmaceuticals by 2.3% in the fourth quarter. Invesco Ltd. now owns 52,142 shares of the company’s stock valued at $548,000 after acquiring an additional 1,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Avadel Pharmaceuticals by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company’s stock valued at $553,000 after acquiring an additional 1,882 shares in the last quarter. Finally, Iridian Asset Management LLC CT boosted its stake in Avadel Pharmaceuticals by 1.1% in the fourth quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock valued at $1,782,000 after acquiring an additional 1,886 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Down 2.4 %

Shares of NASDAQ AVDL opened at $8.63 on Wednesday. The firm has a market cap of $833.91 million, a price-to-earnings ratio of -10.92 and a beta of 1.57. Avadel Pharmaceuticals has a 52-week low of $7.39 and a 52-week high of $19.09. The business’s 50 day moving average is $8.22 and its two-hundred day moving average is $10.93.

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.