Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “

A number of other brokerages have also recently commented on AVDL. Laidlaw set a $2.00 target price on Avadel Pharmaceuticals and gave the stock a “hold” rating in a report on Monday, March 18th. LADENBURG THALM/SH SH cut Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $5.08.

Shares of Avadel Pharmaceuticals stock opened at $1.46 on Monday. The company has a market capitalization of $54.04 million, a PE ratio of -0.73 and a beta of 1.69. The company has a debt-to-equity ratio of 41.63, a current ratio of 3.27 and a quick ratio of 3.13. Avadel Pharmaceuticals has a one year low of $1.03 and a one year high of $7.97.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.05. The firm had revenue of $16.44 million during the quarter. Avadel Pharmaceuticals had a negative return on equity of 215.96% and a negative net margin of 111.19%. As a group, research analysts forecast that Avadel Pharmaceuticals will post -1.12 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. HRT Financial LLC purchased a new position in shares of Avadel Pharmaceuticals in the 4th quarter worth approximately $33,000. Paloma Partners Management Co purchased a new position in Avadel Pharmaceuticals during the 4th quarter valued at $59,000. Wedbush Securities Inc. purchased a new position in Avadel Pharmaceuticals during the 1st quarter valued at $51,000. Renaissance Technologies LLC boosted its holdings in Avadel Pharmaceuticals by 5.9% during the 1st quarter. Renaissance Technologies LLC now owns 658,336 shares of the company’s stock valued at $948,000 after acquiring an additional 36,836 shares during the period. Finally, Millennium Management LLC purchased a new position in Avadel Pharmaceuticals during the 4th quarter valued at $189,000. Hedge funds and other institutional investors own 53.35% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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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