Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Down 3.7% - Time to Sell?

Key Points

• Avadel Pharmaceuticals' shares fell 3.7% during trading, closing at $14.83, significantly lower than the previous day's close of $15.40, with trading volume down 91% from average levels.
• Multiple analysts have upgraded Avadel Pharmaceuticals, with Zacks Research issuing a "strong-buy" rating and UBS Group raising their target price from $13.00 to $20.00, resulting in a consensus price target of $20.86.
• For the latest quarter, Avadel reported earnings per share of $0.10, exceeding analysts' expectations, alongside a revenue increase of 64.1% year-over-year, amounting to $68.13 million.

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) dropped 3.7% during mid-day trading on Monday . The stock traded as low as $14.90 and last traded at $14.83. Approximately 115,766 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,356,467 shares. The stock had previously closed at $15.40.

Analysts Set New Price Targets

AVDL has been the topic of several analyst reports. Zacks Research raised Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 8th. Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a "hold" rating in a research note on Wednesday, September 3rd. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Lifesci Capital upgraded shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. Finally, UBS Group boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $20.86.

Avadel Pharmaceuticals Trading Down 1.4%

The firm has a market cap of $1.47 billion, a PE ratio of -506.33 and a beta of 1.58. The stock has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $10.02.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $60.28 million. During the same quarter in the prior year, the business posted ($0.14) EPS. 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 research analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Kovack Advisors Inc. increased its stake in Avadel Pharmaceuticals by 13.0% in the 2nd quarter. Kovack Advisors Inc. now owns 13,000 shares of the company's stock worth $115,000 after buying an additional 1,500 shares in the last quarter. Creative Planning increased its stake in Avadel Pharmaceuticals by 10.0% in the 2nd quarter. Creative Planning now owns 19,376 shares of the company's stock worth $171,000 after buying an additional 1,759 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Avadel Pharmaceuticals by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company's stock valued at $553,000 after purchasing an additional 1,882 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $29,000 after purchasing an additional 2,055 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in shares of Avadel Pharmaceuticals by 18.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,439 shares of the company's stock valued at $154,000 after purchasing an additional 2,761 shares during the last quarter. Hedge funds and other institutional investors own 69.19% of the company's stock.

About Avadel Pharmaceuticals

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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