ValuEngine cut shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

A number of other equities analysts also recently issued reports on the company. SunTrust Banks downgraded Avadel Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded Avadel Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, August 8th. BidaskClub upgraded Avadel Pharmaceuticals from a strong sell rating to a sell rating in a research report on Friday, May 18th. Finally, JMP Securities downgraded Avadel Pharmaceuticals from an outperform rating to a market perform rating in a research report on Tuesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Avadel Pharmaceuticals has an average rating of Hold and a consensus price target of $19.00.

Shares of Avadel Pharmaceuticals stock traded up $0.19 on Friday, reaching $5.01. The company’s stock had a trading volume of 119,043 shares, compared to its average volume of 270,841. The firm has a market cap of $177.20 million, a price-to-earnings ratio of 16.16 and a beta of 1.75. Avadel Pharmaceuticals has a 52 week low of $4.25 and a 52 week high of $11.93. The company has a current ratio of 3.39, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.28. The firm had revenue of $29.23 million for the quarter, compared to the consensus estimate of $25.02 million. Avadel Pharmaceuticals had a negative return on equity of 46.58% and a negative net margin of 2.39%. equities research analysts forecast that Avadel Pharmaceuticals will post -1.91 EPS for the current fiscal year.

In related news, CEO Michael S. Anderson sold 16,297 shares of Avadel Pharmaceuticals stock in a transaction on Friday, August 10th. The stock was sold at an average price of $4.91, for a total transaction of $80,018.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James E. Flynn sold 114,034 shares of Avadel Pharmaceuticals stock in a transaction on Monday, June 25th. The shares were sold at an average price of $5.99, for a total value of $683,063.66. The disclosure for this sale can be found here. Insiders have sold 136,621 shares of company stock worth $793,966 over the last quarter. 7.31% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVDL. Acadian Asset Management LLC purchased a new position in Avadel Pharmaceuticals during the second quarter valued at $8,157,000. Renaissance Technologies LLC lifted its position in Avadel Pharmaceuticals by 34.2% during the second quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock valued at $6,431,000 after purchasing an additional 267,270 shares in the last quarter. Brandes Investment Partners LP lifted its position in Avadel Pharmaceuticals by 3.4% during the second quarter. Brandes Investment Partners LP now owns 4,970,106 shares of the company’s stock valued at $30,467,000 after purchasing an additional 161,613 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Avadel Pharmaceuticals in the second quarter valued at about $478,000. Finally, GSA Capital Partners LLP lifted its position in shares of Avadel Pharmaceuticals by 25.9% in the first quarter. GSA Capital Partners LLP now owns 315,960 shares of the company’s stock valued at $2,303,000 after acquiring an additional 64,927 shares in the last quarter. Institutional investors own 54.70% of the company’s stock.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.

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