Avadel Pharmaceuticals (NASDAQ:AVDL) Downgraded to Hold Rating by Needham & Company LLC

Key Points

• Needham & Company LLC has downgraded Avadel Pharmaceuticals from a "buy" to a "hold" rating, reflecting a cautious outlook on the stock's performance.
• Despite the downgrade, other analysts maintain a more positive stance, with UBS increasing its target price from $13.00 to $20.00 and giving it a "buy" rating.
• Avadel Pharmaceuticals reported revenue growth of 64.1% year-over-year, with earnings exceeding analysts' expectations in its latest quarterly results.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) was downgraded by equities research analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Marketbeat reports.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Avadel Pharmaceuticals in a research report on Wednesday, October 8th. UBS Group boosted their target price 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. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 28th. HC Wainwright upped their target price on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company raised Avadel Pharmaceuticals to a "hold" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Avadel Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $20.86.

Avadel Pharmaceuticals Stock Performance

AVDL stock traded up $0.70 during mid-day trading on Wednesday, hitting $18.57. The company had a trading volume of 19,279,615 shares, compared to its average volume of 1,457,145. The firm has a market cap of $1.80 billion, a PE ratio of -618.83 and a beta of 1.46. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $18.64. The stock's fifty day moving average price is $15.02 and its two-hundred day moving average price is $11.36.

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 net margin of 1.32% and a negative return on equity of 3.73%. The company had revenue of $68.13 million for the quarter, compared to analysts' expectations of $60.28 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. Avadel Pharmaceuticals's revenue was up 64.1% on a year-over-year basis. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts anticipate that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in AVDL. Nisa Investment Advisors LLC raised its holdings in shares of Avadel Pharmaceuticals by 164.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company's stock valued at $29,000 after purchasing an additional 2,055 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Avadel Pharmaceuticals during the second quarter valued at about $65,000. Tower Research Capital LLC TRC grew its stake in shares of Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company's stock valued at $78,000 after acquiring an additional 6,025 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in Avadel Pharmaceuticals in the 1st quarter worth $82,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter worth about $82,000. 69.19% of the stock is currently owned by hedge funds and other 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.