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

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) has received a consensus recommendation of "Buy" from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.88.

Several brokerages have issued reports on AVDL. Piper Sandler cut their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. UBS Group decreased their price target on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, January 13th. HC Wainwright reiterated a "buy" rating and set a $21.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating and a $12.00 price target for the company.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. Hsbc Holdings PLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $113,000. Kazazian Asset Management LLC bought a new position in Avadel Pharmaceuticals during the fourth quarter valued at $126,000. Sanctuary Advisors LLC purchased a new stake in Avadel Pharmaceuticals in the fourth quarter worth $140,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Avadel Pharmaceuticals in the first quarter valued at $110,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Avadel Pharmaceuticals in the fourth quarter valued at $163,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Trading Up 3.3 %

AVDL opened at $8.89 on Thursday. The company has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $9.71. Avadel Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $19.09. The company has a market cap of $859.03 million, a P/E ratio of -11.25 and a beta of 1.52.

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.

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