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

Key Points

• Avadel Pharmaceuticals PLC has received a consensus rating of "Buy" from nine covering brokerages, including six buy ratings and two strong buy ratings.
• Analysts have set an average twelve-month price target of $20.86 for Avadel Pharmaceuticals, indicating potential upside from its current price level.
• Avadel Pharmaceuticals reported a 64.1% year-over-year increase in revenue, reaching $68.13 million, and topped earnings expectations with an EPS of $0.10.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) has been given a consensus recommendation of "Buy" by the nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $20.8571.

Several research firms have recently commented on AVDL. Zacks Research raised shares of Avadel Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 8th. Lifesci Capital raised Avadel Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company upgraded Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday, September 3rd. UBS Group lifted their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Finally, Wall Street Zen cut Avadel Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $15.34 on Friday. Avadel Pharmaceuticals has a 52-week low of $6.38 and a 52-week high of $16.66. The stock has a fifty day simple moving average of $13.82 and a two-hundred day simple moving average of $10.56. The firm has a market capitalization of $1.49 billion, a PE ratio of -511.33 and a beta of 1.58.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The company had revenue of $68.13 million for the quarter, compared to analysts' expectations of $60.28 million. During the same period in the previous year, the firm earned ($0.14) EPS. 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, sell-side analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its holdings in shares of Avadel Pharmaceuticals by 10.2% in the 4th quarter. California State Teachers Retirement System now owns 81,448 shares of the company's stock valued at $856,000 after purchasing an additional 7,544 shares in the last quarter. Rhumbline Advisers increased its holdings in Avadel Pharmaceuticals by 2.3% during the first quarter. Rhumbline Advisers now owns 127,027 shares of the company's stock valued at $995,000 after buying an additional 2,890 shares during the period. Nuveen Asset Management LLC raised its stake in Avadel Pharmaceuticals by 21.8% in the fourth quarter. Nuveen Asset Management LLC now owns 305,462 shares of the company's stock worth $3,210,000 after buying an additional 54,773 shares in the last quarter. Woodline Partners LP lifted its holdings in Avadel Pharmaceuticals by 78.7% during the first quarter. Woodline Partners LP now owns 896,861 shares of the company's stock worth $7,022,000 after buying an additional 395,040 shares during the period. Finally, Nuveen LLC purchased a new stake in Avadel Pharmaceuticals during the first quarter worth $4,055,000. 69.19% of the stock is currently owned by institutional investors.

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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