Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Given Average Rating of "Buy" by Analysts

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued a report on the stock in the last year is $18.17.

Separately, Needham & Company LLC reiterated a "buy" rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a report on Thursday, May 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVDL. Rhumbline Advisers boosted its position in shares of Avadel Pharmaceuticals by 2.3% during the 1st quarter. Rhumbline Advisers now owns 127,027 shares of the company's stock valued at $995,000 after acquiring an additional 2,890 shares in the last quarter. Woodline Partners LP boosted its position in shares of Avadel Pharmaceuticals by 78.7% during the 1st quarter. Woodline Partners LP now owns 896,861 shares of the company's stock valued at $7,022,000 after acquiring an additional 395,040 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at about $115,000. Two Seas Capital LP boosted its position in shares of Avadel Pharmaceuticals by 15.1% during the 1st quarter. Two Seas Capital LP now owns 4,946,449 shares of the company's stock valued at $38,731,000 after acquiring an additional 650,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Avadel Pharmaceuticals by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company's stock valued at $430,000 after acquiring an additional 2,291 shares in the last quarter. Institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Trading Up 4.5%

AVDL stock opened at $10.04 on Tuesday. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $17.30. The company has a fifty day simple moving average of $9.28 and a 200 day simple moving average of $8.66. The firm has a market cap of $971.26 million, a PE ratio of -37.19 and a beta of 1.42.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $52.51 million during the quarter, compared to analyst estimates of $50.57 million. Avadel Pharmaceuticals had a negative net margin of 13.58% and a negative return on equity of 36.07%. Avadel Pharmaceuticals's quarterly revenue was up 93.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) EPS. As a group, analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

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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