Avadel Pharmaceuticals (NASDAQ:AVDL) Trading Down 3.7% - Should You 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.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Lifesci Capital upgraded shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, September 3rd. Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 8th. Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday, September 3rd. Finally, UBS Group increased their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Avadel Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $20.86.

Avadel Pharmaceuticals Stock Down 0.2%

The business has a 50-day simple moving average of $13.31 and a two-hundred day simple moving average of $10.27. The stock has a market capitalization of $1.57 billion, a P/E ratio of -540.00 and a beta of 1.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its 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. The firm had revenue of $68.13 million for 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 company's revenue was up 64.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 2,055 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $65,000. Tower Research Capital LLC TRC grew its stake 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 bought a new position in Avadel Pharmaceuticals in the 1st quarter valued at approximately $82,000. Finally, Thoroughbred Financial Services LLC purchased a new position in shares of Avadel Pharmaceuticals in the 1st quarter worth $82,000. Institutional investors and hedge funds 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.