Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.57 and traded as high as $21.58. Avadel Pharmaceuticals shares last traded at $21.55, with a volume of 558,750 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Leerink Partnrs lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Leerink Partners reaffirmed a “market perform” rating and issued a $18.50 target price on shares of Avadel Pharmaceuticals in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday. Jefferies Financial Group downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Wednesday, October 22nd. Finally, Wall Street Zen cut Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $18.13.

Avadel Pharmaceuticals Stock Up 0.0%

The stock has a 50 day simple moving average of $20.86 and a 200-day simple moving average of $15.70.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). Avadel Pharmaceuticals had a negative return on equity of 0.33% and a negative net margin of 0.11%.The firm had revenue of $77.47 million during the quarter, compared to the consensus estimate of $78.05 million. During the same period last year, the firm posted ($0.03) earnings per share. The company’s revenue for the quarter was up 55.0% compared to the same quarter last year. As a group, equities analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in AVDL. Bridgefront Capital LLC raised its holdings in shares of Avadel Pharmaceuticals by 3.4% in the third quarter. Bridgefront Capital LLC now owns 28,395 shares of the company’s stock valued at $434,000 after acquiring an additional 931 shares in the last quarter. Kovack Advisors Inc. raised its stake in Avadel Pharmaceuticals by 13.0% in the second quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock worth $115,000 after buying an additional 1,500 shares in the last quarter. Creative Planning lifted its holdings in Avadel Pharmaceuticals by 10.0% during the second quarter. Creative Planning now owns 19,376 shares of the company’s stock worth $171,000 after buying an additional 1,759 shares during the period. Nisa Investment Advisors LLC boosted its position in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after acquiring an additional 2,055 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Avadel Pharmaceuticals by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company’s stock valued at $430,000 after acquiring an additional 2,291 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.