Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Avadel Pharmaceuticals' stock rating has been upgraded from "buy" to a "strong-buy" by Wall Street Zen, signaling increased investor confidence.
• The company reported a 64.1% increase in revenue year over year, with earnings per share of $0.10, surpassing analysts' expectations.
• Currently, Avadel Pharmaceuticals has an average price target of $20.86 and a market capitalization of $1.49 billion.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Several other equities research analysts also recently issued reports on the stock. Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a "hold" rating in a research report on Wednesday, September 3rd. Lifesci Capital raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, September 3rd. HC Wainwright increased their price objective on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. Finally, Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Avadel Pharmaceuticals currently has an average rating of "Buy" and an average price target of $20.86.

Avadel Pharmaceuticals Stock Up 0.1%

Shares of AVDL stock opened at $15.34 on Friday. The firm has a fifty day moving average of $13.82 and a 200-day moving average of $10.56. Avadel Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $16.66. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -511.33 and a beta of 1.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The firm's revenue 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 will post -0.51 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake 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 valued at $78,000 after acquiring an additional 6,025 shares during the last quarter. Krensavage Asset Management LLC lifted its stake in Avadel Pharmaceuticals by 0.9% in the second quarter. Krensavage Asset Management LLC now owns 958,877 shares of the company's stock valued at $8,486,000 after acquiring an additional 8,877 shares during the last quarter. MML Investors Services LLC lifted its stake in Avadel Pharmaceuticals by 6.7% in the second quarter. MML Investors Services LLC now owns 207,378 shares of the company's stock valued at $1,835,000 after acquiring an additional 13,072 shares during the last quarter. Man Group plc lifted its stake in Avadel Pharmaceuticals by 101.3% in the second quarter. Man Group plc now owns 57,931 shares of the company's stock valued at $513,000 after acquiring an additional 29,149 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Avadel Pharmaceuticals by 30.8% in the second quarter. BNP Paribas Financial Markets now owns 22,823 shares of the company's stock valued at $202,000 after acquiring an additional 5,372 shares during the last quarter. 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.

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