Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Rating of "Buy" from Brokerages

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

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

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AVDL. Janus Henderson Group PLC grew its holdings in shares of Avadel Pharmaceuticals by 5.7% in the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock worth $148,117,000 after acquiring an additional 753,332 shares during the period. Two Seas Capital LP lifted its position in shares of Avadel Pharmaceuticals by 15.1% in the first 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. Braidwell LP lifted its position in shares of Avadel Pharmaceuticals by 21.2% in the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company's stock valued at $43,151,000 after acquiring an additional 716,787 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Avadel Pharmaceuticals by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,953,247 shares of the company's stock worth $41,549,000 after purchasing an additional 90,147 shares during the last quarter. Finally, Wealth Effects LLC boosted its stake in Avadel Pharmaceuticals by 1.1% during the first quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock valued at $18,550,000 after buying an additional 24,992 shares during the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Trading Down 0.8%

Shares of AVDL traded down $0.07 during midday trading on Monday, reaching $9.06. The stock had a trading volume of 783,726 shares, compared to its average volume of 1,233,484. The company's 50-day moving average is $8.32 and its 200 day moving average is $9.04. Avadel Pharmaceuticals has a 12-month low of $6.38 and a 12-month high of $17.30. The company has a market capitalization of $876.46 million, a price-to-earnings ratio of -11.47 and a beta of 1.40.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.02. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $52.51 million during the quarter, compared to analysts' expectations of $50.57 million. During the same period in the prior year, the business earned ($0.30) EPS. The company's revenue for the quarter was up 93.2% compared to the same quarter last year. Research analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

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.