Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded Avadel Pharmaceuticals from a "strong-buy" to a "buy" rating, while the consensus target price for the stock is $20.86.
• Avadel reported a quarterly earnings beat with EPS of $0.10, outperforming estimates of $0.02, and generated revenue of $68.13 million, a 64.1% increase year-over-year.
• Several institutional investors have recently increased their stakes in Avadel, with hedge funds owning 69.19% of the stock.

Wall Street Zen lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a "hold" rating in a research note on Wednesday, September 3rd. UBS Group lifted their price objective on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. HC Wainwright lifted their price objective on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Finally, Zacks Research upgraded shares of Avadel Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $20.86.

Avadel Pharmaceuticals Stock Performance

AVDL stock traded down $0.18 during trading on Friday, reaching $15.82. The company had a trading volume of 68,942 shares, compared to its average volume of 1,361,609. The firm has a 50-day simple moving average of $13.43 and a 200-day simple moving average of $10.36. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -527.33 and a beta of 1.57. Avadel Pharmaceuticals has a twelve month low of $6.38 and a twelve month high of $16.66.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its 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. The company had revenue of $68.13 million during the quarter, compared to analysts' expectations of $60.28 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. Avadel Pharmaceuticals's revenue for the quarter was up 64.1% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Sell-side analysts expect that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Brandes Investment Partners LP boosted its position in shares of Avadel Pharmaceuticals by 14.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company's stock valued at $57,416,000 after acquiring an additional 820,467 shares during the last quarter. Two Seas Capital LP boosted its position in shares of Avadel Pharmaceuticals by 24.4% during the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company's stock valued at $54,472,000 after acquiring an additional 1,208,625 shares during the last quarter. Wealth Effects LLC boosted its position in shares of Avadel Pharmaceuticals by 1.1% during the 1st quarter. Wealth Effects LLC now owns 2,369,122 shares of the company's stock valued at $18,550,000 after acquiring an additional 24,992 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company's stock valued at $19,198,000 after acquiring an additional 979,422 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Avadel Pharmaceuticals by 23.9% during the 4th quarter. Millennium Management LLC now owns 1,212,004 shares of the company's stock valued at $12,738,000 after acquiring an additional 233,986 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company's stock.

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.