Avadel Pharmaceuticals (NASDAQ:AVDL) Downgraded to Hold Rating by Zacks Research

Key Points

• Avadel Pharmaceuticals has been downgraded from a "strong-buy" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• Despite the downgrade, other analysts, like UBS Group, have raised their price target for the stock from $13.00 to $20.00 and maintained a "buy" rating.
• The company recently reported a significant revenue increase of 64.1% year-over-year, with quarterly earnings beating estimates, indicating a strong operational performance.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on AVDL. UBS Group boosted their price objective on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a "hold" rating in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Avadel Pharmaceuticals in a research note on Wednesday. Finally, Wall Street Zen upgraded Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.86.

Avadel Pharmaceuticals Trading Down 1.8%

Shares of AVDL opened at $14.21 on Tuesday. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $16.66. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -473.67 and a beta of 1.46. The stock has a 50 day moving average of $14.44 and a 200 day moving average of $10.89.

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, beating the consensus estimate of $0.02 by $0.08. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The business had revenue of $68.13 million for the quarter, compared to the consensus estimate of $60.28 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Avadel Pharmaceuticals's revenue for the quarter was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AVDL. Nisa Investment Advisors LLC increased its position in shares of Avadel Pharmaceuticals by 164.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock worth $29,000 after purchasing an additional 2,055 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Avadel Pharmaceuticals in the 2nd quarter worth approximately $65,000. Tower Research Capital LLC TRC increased its holdings in shares of Avadel Pharmaceuticals by 217.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company's stock worth $78,000 after buying an additional 6,025 shares during the last quarter. Exencial Wealth Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at $82,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at $82,000. 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.

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