Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL - Get Free Report) have received an average rating of "Buy" from the six analysts that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.17.

Several analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $19.00 price objective on shares of Avadel Pharmaceuticals in a research note on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, March 4th.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL opened at $9.32 on Friday. The company has a market cap of $901.62 million, a P/E ratio of -34.52 and a beta of 1.45. Avadel Pharmaceuticals has a one year low of $6.38 and a one year high of $17.30. The firm's fifty day moving average price is $8.99 and its two-hundred day moving average price is $8.80.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates 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 36.07% and a negative net margin of 13.58%. The firm's quarterly revenue was up 93.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.30) earnings per share. As a group, equities research analysts expect that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Large investors have recently bought and sold shares of the company. Two Seas Capital LP raised its position in shares of Avadel Pharmaceuticals by 90.6% in the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock valued at $45,156,000 after buying an additional 2,042,669 shares in the last quarter. Brandes Investment Partners LP increased its stake in Avadel Pharmaceuticals by 58.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company's stock valued at $22,840,000 after acquiring an additional 798,415 shares during the last quarter. Janus Henderson Group PLC raised its position in Avadel Pharmaceuticals by 5.7% during the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company's stock valued at $148,117,000 after purchasing an additional 753,332 shares in the last quarter. Braidwell LP lifted its stake in Avadel Pharmaceuticals by 21.2% during the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company's stock worth $43,151,000 after purchasing an additional 716,787 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Avadel Pharmaceuticals in the 1st quarter valued at $4,055,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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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