Avadel Pharmaceuticals (NASDAQ:AVDL) PT Raised to $9.00 at Needham & Company LLC

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) had its target price upped by Needham & Company LLC from $8.00 to $9.00 in a research note issued to investors on Monday, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. SVB Leerink raised their target price on shares of Avadel Pharmaceuticals from $6.00 to $12.00 and gave the company an outperform rating in a research note on Thursday, August 11th. Craig Hallum reduced their price objective on shares of Avadel Pharmaceuticals from $15.50 to $12.00 and set a buy rating for the company in a research report on Thursday, July 28th. Finally, Jefferies Financial Group lowered shares of Avadel Pharmaceuticals from a buy rating to a hold rating and raised their price objective for the company from $6.00 to $8.00 in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Avadel Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $10.29.

Avadel Pharmaceuticals Stock Down 2.1 %

Avadel Pharmaceuticals stock opened at $7.81 on Monday. The stock has a market cap of $466.96 million, a price-to-earnings ratio of -3.50 and a beta of 1.52. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.11. The company’s 50-day moving average price is $6.20 and its two-hundred day moving average price is $5.05. Avadel Pharmaceuticals has a 52 week low of $1.05 and a 52 week high of $10.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter worth approximately $34,000. SG Americas Securities LLC acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter worth approximately $50,000. Virtu Financial LLC acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter worth approximately $53,000. Engineers Gate Manager LP acquired a new stake in shares of Avadel Pharmaceuticals during the first quarter worth approximately $79,000. Finally, UBS Group AG boosted its holdings in shares of Avadel Pharmaceuticals by 300.6% during the third quarter. UBS Group AG now owns 11,955 shares of the company’s stock worth $60,000 after purchasing an additional 8,971 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

About Avadel Pharmaceuticals

(Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.

Featured Articles

The Fly logo

Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

Receive News & Ratings for Avadel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avadel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.