Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Avadel Pharmaceuticals shares have recently crossed above their 200-day moving average, with the stock trading at $14.20 after reaching a high of $14.28.
• Equities analysts have mixed opinions on the stock, with ratings ranging from a strong buy to a sell, and a consensus rating of "Moderate Buy" with an average price target of $20.86.
• Avadel reported a 64.1% increase in revenue for the last quarter, with earnings per share of $0.10, exceeding analysts' expectations.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.05 and traded as high as $14.28. Avadel Pharmaceuticals shares last traded at $14.20, with a volume of 1,002,709 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research cut Avadel Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 7th. Weiss Ratings restated a "sell (e+)" rating on shares of Avadel Pharmaceuticals in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded Avadel Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 3rd. UBS Group boosted their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Finally, HC Wainwright boosted their target price on Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.86.

Avadel Pharmaceuticals Stock Up 1.4%

The stock has a market capitalization of $1.38 billion, a P/E ratio of -473.33 and a beta of 1.46. The business has a fifty day moving average price of $14.63 and a 200-day moving average price of $11.05.

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 analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $68.13 million during 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%.Avadel Pharmaceuticals's revenue for the quarter was up 64.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. On average, equities analysts expect that Avadel Pharmaceuticals PLC. will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of AVDL. Nisa Investment Advisors LLC increased its position in 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 buying an additional 2,055 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Avadel Pharmaceuticals in the second quarter worth about $65,000. Tower Research Capital LLC TRC increased its position in Avadel Pharmaceuticals by 217.5% in the second 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 in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Avadel Pharmaceuticals in the first quarter worth about $82,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in Avadel Pharmaceuticals in the first quarter worth about $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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