Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report)'s stock price was up 7.4% on Wednesday . The company traded as high as $9.70 and last traded at $9.71. Approximately 418,838 shares changed hands during trading, a decline of 66% from the average daily volume of 1,226,976 shares. The stock had previously closed at $9.04.
Analyst Ratings Changes
Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $18.17.
View Our Latest Analysis on Avadel Pharmaceuticals
Avadel Pharmaceuticals Trading Up 2.3%
The business has a 50 day moving average of $9.26 and a two-hundred day moving average of $8.69. The firm has a market cap of $945.15 million, a P/E ratio of -36.19 and a beta of 1.42.
Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $52.51 million for the quarter, compared to analysts' expectations of $50.57 million. Avadel Pharmaceuticals had a negative return on equity of 36.07% and a negative net margin of 13.58%. The company's quarterly revenue was up 93.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) EPS. On average, sell-side analysts predict that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC bought a new position in Avadel Pharmaceuticals during the 1st quarter worth $82,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter worth $82,000. Hsbc Holdings PLC acquired a new stake in shares of Avadel Pharmaceuticals during the 4th quarter worth $113,000. Kovack Advisors Inc. acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter worth $90,000. Finally, Kazazian Asset Management LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 4th quarter worth $126,000. Institutional investors own 69.19% of the company's stock.
Avadel Pharmaceuticals Company Profile
(
Get Free Report)
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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