Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Recommendation of “Buy” from Brokerages

by · The Cerbat Gem

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) have been assigned an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.57.

Several brokerages have recently commented on AVDL. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Avadel Pharmaceuticals in a research note on Wednesday, August 28th.

Read Our Latest Stock Analysis on Avadel Pharmaceuticals

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Chilton Capital Management LLC bought a new stake in shares of Avadel Pharmaceuticals during the first quarter worth about $51,000. Amalgamated Bank bought a new stake in Avadel Pharmaceuticals during the 2nd quarter worth approximately $45,000. BNP Paribas Financial Markets raised its stake in shares of Avadel Pharmaceuticals by 60.5% in the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after purchasing an additional 1,685 shares during the last quarter. Quarry LP bought a new position in shares of Avadel Pharmaceuticals in the second quarter valued at approximately $63,000. Finally, Claro Advisors LLC purchased a new position in shares of Avadel Pharmaceuticals during the first quarter valued at approximately $172,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Down 2.6 %

Shares of AVDL opened at $13.57 on Friday. The firm’s fifty day simple moving average is $14.20 and its two-hundred day simple moving average is $15.47. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09. The stock has a market capitalization of $1.30 billion, a P/E ratio of -7.29 and a beta of 1.50.

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.47 million. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The firm’s revenue for the quarter was up 2666.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.70) EPS. As a group, research analysts predict that Avadel Pharmaceuticals will post -0.5 EPS for the current fiscal year.

About Avadel Pharmaceuticals

(Get Free Report

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.

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