Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Avadel Pharmaceuticals' stock price crossed above its 200-day moving average of $9.37, trading as high as $15.53 before closing at $14.81.
• Analysts have raised their price targets for Avadel Pharmaceuticals, with a consensus target of $19.67 and ratings mostly indicating a buy or strong buy.
• The company reported significant revenue growth of 64.1% year-over-year, with earnings per share (EPS) of $0.10, exceeding analysts' expectations.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.37 and traded as high as $15.53. Avadel Pharmaceuticals shares last traded at $14.81, with a volume of 1,369,683 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. UBS Group lifted their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. HC Wainwright restated a "buy" rating and set a $24.00 price objective (up from $22.00) on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Zacks Research upgraded shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, Avadel Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $19.67.

Avadel Pharmaceuticals Stock Up 1.0%

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -492.00 and a beta of 1.47. The stock's 50 day moving average price is $11.33 and its two-hundred day moving average price is $9.49.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $60.28 million. During the same period in the prior year, the business posted ($0.14) earnings per share. Avadel Pharmaceuticals's revenue for the quarter was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Avadel Pharmaceuticals by 164.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $29,000 after buying an additional 2,055 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Avadel Pharmaceuticals during the 2nd quarter valued at $65,000. Tower Research Capital LLC TRC raised its stake in Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company's stock valued at $78,000 after purchasing an additional 6,025 shares during the last quarter. Exencial Wealth Advisors LLC acquired a new position in Avadel Pharmaceuticals during the 1st quarter valued at $82,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in Avadel Pharmaceuticals during the first quarter worth $82,000. 69.19% of the stock is currently 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.