Avadel Pharmaceuticals (NASDAQ:AVDL) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a sell rating in a report published on Monday, Zacks.com reports.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

Several other equities research analysts also recently issued reports on the stock. Laidlaw raised shares of Avadel Pharmaceuticals from a hold rating to a buy rating and set a $3.00 price target on the stock in a research note on Monday, August 12th. LADENBURG THALM/SH SH raised shares of Avadel Pharmaceuticals from a neutral rating to a buy rating and set a $6.00 price target on the stock in a research note on Friday, June 14th. Finally, ValuEngine raised shares of Avadel Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, August 1st.



Avadel Pharmaceuticals stock opened at $2.09 on Monday. Avadel Pharmaceuticals has a 12-month low of $1.03 and a 12-month high of $5.25. The company has a market capitalization of $78.44 million, a price-to-earnings ratio of -1.05 and a beta of 1.63. The company has a debt-to-equity ratio of 41.63, a current ratio of 2.89 and a quick ratio of 2.82. The firm’s fifty day moving average price is $2.20 and its 200 day moving average price is $1.93.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter. Avadel Pharmaceuticals had a negative return on equity of 318.48% and a negative net margin of 135.48%. The firm had revenue of $17.55 million for the quarter. Analysts forecast that Avadel Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Morgan Stanley grew its holdings in Avadel Pharmaceuticals by 0.7% during the 2nd quarter. Morgan Stanley now owns 717,901 shares of the company’s stock worth $2,075,000 after acquiring an additional 5,243 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Avadel Pharmaceuticals by 383.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 22,700 shares of the company’s stock valued at $64,000 after buying an additional 18,000 shares during the period. Wedbush Securities Inc. acquired a new position in shares of Avadel Pharmaceuticals in the 1st quarter valued at about $51,000. Susquehanna International Group LLP boosted its holdings in shares of Avadel Pharmaceuticals by 263.6% in the 2nd quarter. Susquehanna International Group LLP now owns 98,389 shares of the company’s stock valued at $284,000 after buying an additional 71,328 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Avadel Pharmaceuticals in the 4th quarter valued at about $189,000. 50.89% of the stock is owned by institutional investors.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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