Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Consensus Rating of “Buy” from Analysts

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.57.

Several research analysts have recently weighed in on AVDL shares. Craig Hallum boosted their target price on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, April 9th. Piper Sandler boosted their target price on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. HC Wainwright boosted their target price on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Oppenheimer boosted their target price on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. RTW Investments LP lifted its holdings in Avadel Pharmaceuticals by 4.8% in the third quarter. RTW Investments LP now owns 7,136,415 shares of the company’s stock valued at $73,505,000 after acquiring an additional 325,774 shares during the last quarter. Gendell Jeffrey L lifted its stake in Avadel Pharmaceuticals by 4.1% during the third quarter. Gendell Jeffrey L now owns 5,615,350 shares of the company’s stock worth $57,838,000 after purchasing an additional 219,290 shares in the last quarter. Vivo Capital LLC lifted its stake in Avadel Pharmaceuticals by 7.0% during the third quarter. Vivo Capital LLC now owns 4,096,428 shares of the company’s stock worth $42,193,000 after purchasing an additional 266,851 shares in the last quarter. Wealth Effects LLC lifted its stake in Avadel Pharmaceuticals by 0.3% during the fourth 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 in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in Avadel Pharmaceuticals by 5.9% during the fourth 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 in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Trading Down 0.1 %

AVDL stock opened at $17.81 on Friday. Avadel Pharmaceuticals has a 12-month low of $9.50 and a 12-month high of $18.85. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -8.73 and a beta of 1.60. The business’s 50-day moving average is $15.88 and its 200 day moving average is $13.92.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $19.45 million during the quarter, compared to the consensus estimate of $17.41 million. During the same quarter last year, the firm posted ($0.44) EPS. As a group, equities analysts forecast that Avadel Pharmaceuticals will post -0.46 EPS for the current fiscal 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.