Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives $18.13 Consensus Target Price from Analysts

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.1250.

A number of analysts recently weighed in on the company. HC Wainwright downgraded Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Thursday, October 23rd. Jefferies Financial Group lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $22.00 to $20.00 in a report on Wednesday, October 22nd. Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Leerink Partnrs cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, Piper Sandler downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd.

Avadel Pharmaceuticals Trading Down 0.1%

Shares of NASDAQ:AVDL opened at $21.48 on Tuesday. Avadel Pharmaceuticals has a 52-week low of $6.38 and a 52-week high of $23.57. The firm has a fifty day moving average of $21.20 and a 200 day moving average of $16.16.

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

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its stake in Avadel Pharmaceuticals by 164.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after purchasing an additional 2,055 shares during the period. Federated Hermes Inc. grew its holdings in shares of Avadel Pharmaceuticals by 195.4% in the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after purchasing an additional 2,296 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Avadel Pharmaceuticals in the second quarter worth $65,000. Tower Research Capital LLC TRC raised its holdings in Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after buying an additional 6,025 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at $83,000. 69.19% of the stock is currently owned by hedge funds and other 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.