Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives $19.67 Consensus PT from Analysts

Key Points

• Avadel Pharmaceuticals PLC (NASDAQ:AVDL) has received an average recommendation of "Buy" from seven research firms, with a consensus price target of approximately $19.67.
• The company reported $0.10 earnings per share for the last quarter, exceeding analysts' expectations and demonstrating a 64.1% increase in revenue compared to the previous year.
• Large institutional investors own 69.19% of Avadel Pharmaceuticals' stock, indicating strong support from hedge funds and institutional players.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) has been assigned a consensus recommendation of "Buy" from the nine analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $20.8571.

AVDL has been the topic of several analyst reports. UBS Group upped their target price on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Zacks Research upgraded Avadel Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 8th. Wells Fargo & Company upgraded Avadel Pharmaceuticals to a "hold" rating in a report on Wednesday. HC Wainwright lifted their price target on Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a "buy" rating in a report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a report on Thursday, May 8th.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several hedge funds have recently bought and sold shares of AVDL. Two Seas Capital LP lifted its position in Avadel Pharmaceuticals by 90.6% during the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after acquiring an additional 2,042,669 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Avadel Pharmaceuticals by 82.3% in the second quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company's stock valued at $19,198,000 after buying an additional 979,422 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Avadel Pharmaceuticals by 14.5% in the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company's stock valued at $57,416,000 after buying an additional 820,467 shares in the last quarter. Janus Henderson Group PLC raised its position 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 valued at $148,117,000 after buying an additional 753,332 shares in the last quarter. Finally, Braidwell LP raised 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 buying an additional 716,787 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Trading Up 5.1%

AVDL traded up $0.77 on Wednesday, hitting $15.76. 2,024,679 shares of the stock traded hands, compared to its average volume of 1,354,167. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $16.66. The firm has a market capitalization of $1.53 billion, a PE ratio of -525.33 and a beta of 1.58. The business has a fifty day moving average price of $11.87 and a two-hundred day moving average price of $9.69.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $68.13 million for the quarter, compared to the consensus estimate of $60.28 million. During the same period in the previous year, the business earned ($0.14) EPS. Avadel Pharmaceuticals'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, equities research 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.