Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.71 Average Price Target from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been given an average recommendation of “Buy” by the seven analysts that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $24.43.

A number of brokerages have recently issued reports on AVDL. Oppenheimer lifted their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. HC Wainwright lowered their target price on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AVDL. Janus Henderson Group PLC raised its stake in Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock worth $218,182,000 after purchasing an additional 1,789,830 shares during the period. Gendell Jeffrey L raised its position 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 valued at $96,410,000 after buying an additional 92,768 shares during the period. Brandes Investment Partners LP lifted its holdings in Avadel Pharmaceuticals by 1.5% in the second quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after acquiring an additional 21,214 shares during the last quarter. Kennedy Capital Management LLC grew its position in Avadel Pharmaceuticals by 1.1% in the first quarter. Kennedy Capital Management LLC now owns 653,147 shares of the company’s stock worth $11,032,000 after acquiring an additional 7,273 shares during the period. Finally, Modera Wealth Management LLC increased its stake in Avadel Pharmaceuticals by 0.4% during the second quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock worth $8,473,000 after acquiring an additional 2,159 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL opened at $12.02 on Thursday. The stock has a market capitalization of $1.16 billion, a PE ratio of -15.21 and a beta of 1.47. Avadel Pharmaceuticals has a fifty-two week low of $10.39 and a fifty-two week high of $19.09. The company has a fifty day moving average of $13.62 and a two-hundred day moving average of $15.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 92.12%. The firm had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. During the same period last year, the company posted ($0.41) EPS. Avadel Pharmaceuticals’s quarterly revenue was up 624.6% compared to the same quarter last year. Research analysts forecast that Avadel Pharmaceuticals will post -0.5 earnings per share for the current year.

About Avadel Pharmaceuticals

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.