Avadel Pharmaceuticals plc (NASDAQ:AVDL) Given Consensus Rating of "Buy" by Analysts

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) have earned a consensus recommendation of "Buy" from the seven research firms that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $19.43.

AVDL has been the subject of several recent research reports. HC Wainwright reiterated a "buy" rating and set a $21.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 price objective for the company.

Avadel Pharmaceuticals Stock Down 0.4%

NASDAQ AVDL traded down $0.04 on Monday, reaching $9.18. The stock had a trading volume of 58,440 shares, compared to its average volume of 1,306,663. Avadel Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $17.30. The stock has a fifty day moving average price of $8.34 and a two-hundred day moving average price of $8.99. The firm has a market capitalization of $888.06 million, a price-to-earnings ratio of -11.62 and a beta of 1.40.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $52.51 million for the quarter, compared to analyst estimates of $50.57 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business's quarterly revenue was up 93.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) earnings per share. Sell-side analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVDL. Exencial Wealth Advisors LLC acquired a new stake in Avadel Pharmaceuticals during the 1st quarter worth approximately $82,000. Thoroughbred Financial Services LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at about $82,000. Hsbc Holdings PLC purchased a new position in Avadel Pharmaceuticals in the 4th quarter worth approximately $113,000. Kovack Advisors Inc. acquired a new stake in Avadel Pharmaceuticals in the first quarter valued at approximately $90,000. Finally, Kazazian Asset Management LLC acquired a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth $126,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.