Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.63 and traded as high as $21.76. Avadel Pharmaceuticals shares last traded at $21.39, with a volume of 35,016,239 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price target on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Monday, December 29th. UBS Group lowered Avadel Pharmaceuticals to a “neutral” rating in a research report on Tuesday, October 28th. Wall Street Zen cut Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Avadel Pharmaceuticals Price Performance

The business’s 50-day simple moving average is $21.51 and its 200-day simple moving average is $18.68.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. Brandes Investment Partners LP grew its position in Avadel Pharmaceuticals by 14.5% in the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock worth $57,416,000 after acquiring an additional 820,467 shares in the last quarter. Two Seas Capital LP lifted its stake in shares of Avadel Pharmaceuticals by 24.4% in the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after purchasing an additional 1,208,625 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Avadel Pharmaceuticals by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 5,864,781 shares of the company’s stock valued at $126,386,000 after purchasing an additional 258,499 shares during the last quarter. Weiss Asset Management LP bought a new stake in Avadel Pharmaceuticals in the fourth quarter worth $97,301,000. Finally, TIG Advisors LLC acquired a new position in Avadel Pharmaceuticals during the fourth quarter worth $83,164,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

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.