Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.

AVDL has been the topic of a number of other reports. BidaskClub upgraded Avadel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, May 18th. JMP Securities lowered Avadel Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Finally, SunTrust Banks lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Avadel Pharmaceuticals has an average rating of “Hold” and an average price target of $19.00.

Shares of NASDAQ AVDL opened at $4.42 on Thursday. The stock has a market capitalization of $175.73 million, a price-to-earnings ratio of 14.26 and a beta of 1.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.28 and a current ratio of 3.39. Avadel Pharmaceuticals has a twelve month low of $4.25 and a twelve month high of $11.93.

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

In other news, CEO Michael S. Anderson sold 16,297 shares of the stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $4.91, for a total transaction of $80,018.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James E. Flynn sold 114,034 shares of the stock in a transaction dated 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 a total of 136,621 shares of company stock worth $793,966 over the last quarter. Corporate insiders own 7.31% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of Avadel Pharmaceuticals by 34.2% during the 2nd 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 during the last quarter. Brandes Investment Partners LP increased its position in shares of Avadel Pharmaceuticals by 3.4% during the 2nd 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 during the last quarter. Quantitative Systematic Strategies LLC increased its position in shares of Avadel Pharmaceuticals by 100.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 25,281 shares of the company’s stock valued at $155,000 after purchasing an additional 12,661 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Avadel Pharmaceuticals during the 2nd quarter valued at about $478,000. Finally, Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Avadel Pharmaceuticals during the 2nd quarter valued at about $144,000. Hedge funds and other institutional investors own 54.55% 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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