Needham & Company LLC Lowers Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target to $15.00

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target decreased by Needham & Company LLC from $16.00 to $15.00 in a research note issued to investors on Tuesday, Analyst Ratings Network reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, Zacks Investment Research lowered Avadel Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, January 10th.

AVDL stock opened at $6.46 on Tuesday. The business has a fifty day moving average of $8.53 and a two-hundred day moving average of $8.37. The company has a quick ratio of 11.70, a current ratio of 11.70 and a debt-to-equity ratio of 1.44. The stock has a market cap of $378.69 million, a price-to-earnings ratio of -5.72 and a beta of 1.08. Avadel Pharmaceuticals has a 52-week low of $6.11 and a 52-week high of $11.59.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Monday, November 8th. The company reported ($0.38) EPS for the quarter, hitting the consensus estimate of ($0.38). During the same period in the previous year, the business earned ($0.20) EPS. As a group, sell-side analysts anticipate that Avadel Pharmaceuticals will post -1.37 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC purchased a new position in Avadel Pharmaceuticals in the third quarter valued at $103,000. Janus Henderson Group PLC boosted its holdings in Avadel Pharmaceuticals by 9.2% in the third quarter. Janus Henderson Group PLC now owns 811,257 shares of the company’s stock valued at $7,938,000 after purchasing an additional 68,485 shares during the period. BioImpact Capital LLC purchased a new position in Avadel Pharmaceuticals in the third quarter valued at $3,920,000. Cubist Systematic Strategies LLC purchased a new position in Avadel Pharmaceuticals in the third quarter valued at $176,000. Finally, Morgan Stanley boosted its holdings in Avadel Pharmaceuticals by 12.7% in the third quarter. Morgan Stanley now owns 424,220 shares of the company’s stock valued at $4,157,000 after purchasing an additional 47,955 shares during the period. Hedge funds and other institutional investors own 55.58% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals Plc engages in the development and commercialization of pharmaceutical products. Its products include Bloxiverz, Vazculep, Nouress, and Akovaz. It focuses on approval of FT218, a formulation of sodium oxybate designed to treat excessive daytime sleepiness and cataplexy in adults with narcolepsy.

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