Avadel Pharmaceuticals (NASDAQ:AVDL) Sets New 1-Year High at $18.08

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as $18.08 and last traded at $17.96, with a volume of 704137 shares. The stock had previously closed at $17.00.

Analysts Set New Price Targets

A number of analysts have weighed in on AVDL shares. Piper Sandler boosted their price target on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. HC Wainwright boosted their price objective on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Craig Hallum boosted their price objective on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Needham & Company LLC reissued a "buy" rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday, April 9th. Finally, UBS Group assumed coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 6th. They set a "buy" rating and a $21.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $22.57.

Avadel Pharmaceuticals Trading Up 6.4 %

The firm has a fifty day simple moving average of $15.38 and a 200 day simple moving average of $13.56. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -8.87 and a beta of 1.60.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $19.45 million during the quarter, compared to the consensus estimate of $17.41 million. During the same quarter in the prior year, the company posted ($0.44) EPS. On average, equities analysts expect that Avadel Pharmaceuticals plc will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of AVDL. Balyasny Asset Management L.P. bought a new position in Avadel Pharmaceuticals in the 4th quarter valued at $11,035,000. Samsara BioCapital LLC boosted its position in Avadel Pharmaceuticals by 113.7% in the 1st quarter. Samsara BioCapital LLC now owns 1,409,409 shares of the company's stock valued at $12,910,000 after buying an additional 750,000 shares during the last quarter. Perceptive Advisors LLC bought a new position in Avadel Pharmaceuticals in the 1st quarter valued at $5,404,000. Bank of America Corp DE lifted its stake in shares of Avadel Pharmaceuticals by 553.2% in the 1st quarter. Bank of America Corp DE now owns 692,226 shares of the company's stock valued at $6,341,000 after purchasing an additional 586,247 shares during the period. Finally, Polar Capital Holdings Plc lifted its stake in shares of Avadel Pharmaceuticals by 14.5% in the 1st quarter. Polar Capital Holdings Plc now owns 3,199,152 shares of the company's stock valued at $21,850,000 after purchasing an additional 404,479 shares during the period. 69.19% of the stock is currently owned by institutional investors.

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.