Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Increased to Hold at Zacks Research

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also recently commented on AVDL. Wells Fargo & Company lifted their price objective on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. Piper Sandler cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Needham & Company LLC downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Lifesci Capital lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.13.

Avadel Pharmaceuticals Stock Performance

Shares of Avadel Pharmaceuticals stock opened at $21.50 on Tuesday. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $23.57. The business has a 50 day moving average price of $21.15 and a 200 day moving average price of $16.12.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Tuesday, November 4th. The company reported $0.00 EPS 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 company had revenue of $77.47 million for the quarter, compared to analyst estimates of $78.05 million. During the same quarter last year, the company posted ($0.03) EPS. Avadel Pharmaceuticals’s quarterly revenue was up 55.0% compared to the same quarter last year. On average, analysts anticipate that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of AVDL. Handelsbanken Fonder AB purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth about $302,000. AWM Investment Company Inc. increased its position in Avadel Pharmaceuticals by 671.2% during the 2nd quarter. AWM Investment Company Inc. now owns 316,189 shares of the company’s stock worth $2,798,000 after purchasing an additional 275,189 shares in the last quarter. Woodline Partners LP raised its holdings in Avadel Pharmaceuticals by 78.7% in the first quarter. Woodline Partners LP now owns 896,861 shares of the company’s stock valued at $7,022,000 after buying an additional 395,040 shares during the period. Brandes Investment Partners LP lifted its position in Avadel Pharmaceuticals by 14.5% during the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after buying an additional 820,467 shares in the last quarter. Finally, Two Seas Capital LP grew its stake in Avadel Pharmaceuticals by 24.4% during the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock worth $54,472,000 after buying an additional 1,208,625 shares during the period. Hedge funds and other institutional investors 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.