Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Rating Lowered by Jefferies Financial Group

Key Points

• Avadel Pharmaceuticals' stock rating has been maintained as a "hold" by Jefferies Financial Group, with a revised price target of $20.00, indicating a potential upside of 7.64% from its current trading price.
• Multiple brokerages have adjusted their ratings; Zacks Research downgraded Avadel from a "strong-buy" to a "hold", while UBS Group raised their target and maintained a "buy" rating.
• The company's most recent earnings report showed a 64.1% year-over-year increase in revenue, reporting $68.13 million, and beating consensus estimates by $0.08 EPS.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) was downgraded by analysts at Jefferies Financial Group from a "buy" rating to a "hold" rating in a research note issued on Wednesday, Marketbeat.com reports. They currently have a $20.00 price objective on the stock, down from their previous price objective of $22.00. Jefferies Financial Group's target price indicates a potential upside of 7.85% from the company's current price.

Several other research firms have also recently commented on AVDL. Needham & Company LLC cut Avadel Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Wednesday. UBS Group lifted their price target on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Zacks Research cut Avadel Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 7th. Lifesci Capital upgraded Avadel Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company upgraded Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

Avadel Pharmaceuticals Stock Performance

Avadel Pharmaceuticals stock traded up $0.68 during midday trading on Wednesday, reaching $18.55. 27,152,295 shares of the company were exchanged, compared to its average volume of 1,499,657. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -618.50 and a beta of 1.46. The firm's 50-day simple moving average is $15.02 and its 200-day simple moving average is $11.36. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $18.65.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $68.13 million during the quarter, compared to analysts' expectations of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The firm's quarterly revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) EPS. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently made changes to their positions in AVDL. Wealth Effects LLC raised its position in shares of Avadel Pharmaceuticals by 1.1% in the 1st quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock valued at $18,550,000 after purchasing an additional 24,992 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Avadel Pharmaceuticals by 16.4% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 139,975 shares of the company's stock valued at $1,096,000 after purchasing an additional 19,700 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Avadel Pharmaceuticals by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 234,120 shares of the company's stock valued at $1,833,000 after purchasing an additional 9,025 shares in the last quarter. Pekin Hardy Strauss Inc. acquired a new position in shares of Avadel Pharmaceuticals in the 1st quarter valued at approximately $110,000. Finally, Iridian Asset Management LLC CT raised its position in shares of Avadel Pharmaceuticals by 47.2% in the 1st quarter. Iridian Asset Management LLC CT now owns 249,586 shares of the company's stock valued at $1,954,000 after purchasing an additional 80,000 shares in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

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.