Zacks Investment Research upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a buy rating in a report released on Wednesday. They currently have $3.25 target price on the stock.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

AVDL has been the subject of several other research reports. ValuEngine raised Avadel Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 16th. JMP Securities downgraded Avadel Pharmaceuticals from an outperform rating to a market perform rating in a research report on Tuesday, August 7th. LADENBURG THALM/SH SH set a $10.00 price target on Avadel Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday. Laidlaw downgraded Avadel Pharmaceuticals from a buy rating to a hold rating and set a $6.00 price target for the company. in a research report on Tuesday. Finally, SunTrust Banks downgraded Avadel Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $8.31.

AVDL stock traded up $0.25 during midday trading on Wednesday, hitting $3.59. 367,112 shares of the stock were exchanged, compared to its average volume of 179,397. The stock has a market cap of $118.01 million, a PE ratio of 11.58 and a beta of 1.75. Avadel Pharmaceuticals has a fifty-two week low of $2.80 and a fifty-two week high of $11.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.28 and a current ratio of 3.15.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Monday, November 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.10. The firm had revenue of $19.83 million during the quarter, compared to analysts’ expectations of $20.11 million. Avadel Pharmaceuticals had a negative return on equity of 86.08% and a negative net margin of 34.91%. As a group, equities research analysts predict that Avadel Pharmaceuticals will post -2 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Brandes Investment Partners LP increased its position in Avadel Pharmaceuticals by 27.5% during the third quarter. Brandes Investment Partners LP now owns 6,335,548 shares of the company’s stock worth $27,813,000 after buying an additional 1,365,442 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Avadel Pharmaceuticals in the second quarter valued at $8,157,000. Renaissance Technologies LLC grew its position in shares of Avadel Pharmaceuticals by 34.2% in 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 during the period. Janney Montgomery Scott LLC grew its position in shares of Avadel Pharmaceuticals by 14.8% in the third quarter. Janney Montgomery Scott LLC now owns 227,573 shares of the company’s stock valued at $999,000 after purchasing an additional 29,350 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Avadel Pharmaceuticals by 10.8% in the first quarter. California Public Employees Retirement System now owns 93,638 shares of the company’s stock valued at $683,000 after purchasing an additional 9,138 shares during the period. 54.53% of the stock is owned by institutional investors.

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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