Avadel Pharmaceuticals (NASDAQ:AVDL) Sets New 52-Week High - Still a Buy?

Key Points

• Avadel Pharmaceuticals (NASDAQ:AVDL) reached a new 52-week high of $17.21, reflecting a significant increase in trading volume and market interest.
• Wall Street analysts have mixed ratings for Avadel, with consensus showing a moderate buy stance and a target price averaging $20.86, indicating potential upside.
• The company reported a 64.1% year-over-year revenue increase to $68.13 million, significantly beating earnings estimates, showcasing strong business performance.

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.77 and last traded at $17.21, with a volume of 997530 shares changing hands. The stock had previously closed at $15.80.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVDL shares. Zacks Research cut shares of Avadel Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 7th. Lifesci Capital raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Avadel Pharmaceuticals in a report on Wednesday, October 8th. UBS Group increased their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.86.

Avadel Pharmaceuticals Stock Up 12.1%

The firm's 50-day simple moving average is $14.93 and its 200-day simple moving average is $11.32. The firm has a market capitalization of $1.72 billion, a PE ratio of -589.63 and a beta of 1.46.

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

Institutional Trading of Avadel Pharmaceuticals

A number of institutional investors have recently modified their holdings of AVDL. Wealth Effects LLC boosted its holdings in shares of Avadel Pharmaceuticals by 1.1% during the first quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock worth $18,550,000 after purchasing an additional 24,992 shares during the period. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Avadel Pharmaceuticals by 16.4% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 139,975 shares of the company's stock worth $1,096,000 after purchasing an additional 19,700 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Avadel Pharmaceuticals by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 234,120 shares of the company's stock worth $1,833,000 after purchasing an additional 9,025 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter worth about $110,000. Finally, Iridian Asset Management LLC CT boosted its holdings in shares of Avadel Pharmaceuticals by 47.2% during the first quarter. Iridian Asset Management LLC CT now owns 249,586 shares of the company's stock worth $1,954,000 after purchasing an additional 80,000 shares during the period. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

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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