Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives $20.00 Consensus Price Target from Brokerages

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have been given an average recommendation of “Hold” by the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $20.00.

AVDL has been the topic of a number of research reports. Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Monday, December 29th. Finally, Wells Fargo & Company boosted their target price on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a research note on Thursday, November 20th.

Avadel Pharmaceuticals Stock Down 1.1%

Shares of AVDL stock opened at $21.39 on Wednesday. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $23.57. The firm’s 50-day simple moving average is $21.51 and its two-hundred day simple moving average is $19.03.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Bridgefront Capital LLC boosted its position in Avadel Pharmaceuticals by 3.4% during the third quarter. Bridgefront Capital LLC now owns 28,395 shares of the company’s stock worth $434,000 after purchasing an additional 931 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Avadel Pharmaceuticals by 8.3% during the 4th quarter. Russell Investments Group Ltd. now owns 12,625 shares of the company’s stock valued at $272,000 after buying an additional 967 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in Avadel Pharmaceuticals in the 4th quarter worth approximately $27,000. Kovack Advisors Inc. grew its stake in Avadel Pharmaceuticals by 13.0% in the 2nd quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock valued at $115,000 after buying an additional 1,500 shares in the last quarter. Finally, Creative Planning grew its stake in Avadel Pharmaceuticals by 10.0% in the 2nd quarter. Creative Planning now owns 19,376 shares of the company’s stock valued at $171,000 after buying an additional 1,759 shares in the last quarter. 69.19% of the stock is 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.