Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.57 Average PT from Analysts

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $24.57.

A number of research firms have commented on AVDL. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Wednesday, May 8th. HC Wainwright increased their price objective on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Craig Hallum increased their price objective on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Rodman & Renshaw began coverage on shares of Avadel Pharmaceuticals in a report on Wednesday, June 12th. They issued a “buy” rating and a $27.00 price objective for the company.

Avadel Pharmaceuticals Trading Up 2.0 %

Shares of Avadel Pharmaceuticals stock opened at $16.44 on Friday. The firm has a market capitalization of $1.58 billion, a PE ratio of -8.84 and a beta of 1.52. Avadel Pharmaceuticals has a twelve month low of $9.50 and a twelve month high of $19.09. The firm’s 50-day moving average price is $15.60 and its 200 day moving average price is $15.49.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company had revenue of $27.18 million during the quarter, compared to analysts’ expectations of $25.89 million. Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The company’s quarterly revenue was up 2617.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.48) earnings per share. On average, sell-side analysts predict that Avadel Pharmaceuticals will post -0.58 EPS for the current fiscal year.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of Avadel Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after buying an additional 1,789,830 shares during the last quarter. Gendell Jeffrey L increased its holdings in shares of Avadel Pharmaceuticals by 1.7% during the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock worth $96,410,000 after buying an additional 92,768 shares during the last quarter. Wealth Effects LLC boosted its position in shares of Avadel Pharmaceuticals by 0.3% during the 4th quarter. Wealth Effects LLC now owns 2,416,326 shares of the company’s stock worth $34,119,000 after purchasing an additional 7,037 shares during the period. Brandes Investment Partners LP boosted its position in shares of Avadel Pharmaceuticals by 5.9% during the 4th quarter. Brandes Investment Partners LP now owns 1,533,614 shares of the company’s stock worth $21,655,000 after purchasing an additional 84,842 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in shares of Avadel Pharmaceuticals by 60.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 715,424 shares of the company’s stock worth $7,369,000 after purchasing an additional 268,704 shares during the period. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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.