Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target Raised to $27.00 at HC Wainwright

Avadel Pharmaceuticals (NASDAQ:AVDL) had its target price upped by equities researchers at HC Wainwright from $25.00 to $27.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 70.56% from the stock’s current price.

A number of other analysts have also recently commented on AVDL. Craig Hallum upped their price target on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday. Oppenheimer increased their price target on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. UBS Group assumed coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price target for the company. Piper Sandler upped their price objective on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $24.17.

Avadel Pharmaceuticals Stock Down 2.6 %

Shares of NASDAQ AVDL traded down $0.42 during midday trading on Thursday, reaching $15.83. 2,362,421 shares of the company were exchanged, compared to its average volume of 1,231,947. The stock has a market cap of $1.43 billion, a P/E ratio of -7.82 and a beta of 1.61. The stock’s 50-day moving average price is $16.69 and its 200-day moving average price is $14.38. Avadel Pharmaceuticals has a one year low of $9.50 and a one year high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The business had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $25.89 million. During the same period in the previous year, the company earned ($0.48) EPS. The firm’s revenue for the quarter was up 2617.8% on a year-over-year basis. On average, equities research analysts anticipate that Avadel Pharmaceuticals will post -0.46 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Chilton Capital Management LLC bought a new position in Avadel Pharmaceuticals in the first quarter valued at $51,000. BNP Paribas Financial Markets increased its position in Avadel Pharmaceuticals by 60.5% in the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after buying an additional 1,685 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Avadel Pharmaceuticals during the third quarter worth about $78,000. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals in the 4th quarter valued at approximately $120,000. Finally, Exencial Wealth Advisors LLC bought a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $124,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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.