Avadel Pharmaceuticals (AVDL) Projected to Post Quarterly Earnings on Monday

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) is expected to be announcing its earnings results before the market opens on Monday, March 3rd. Analysts expect the company to announce earnings of ($0.03) per share for the quarter.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL opened at $8.41 on Monday. The business's 50-day simple moving average is $9.08 and its 200-day simple moving average is $11.87. Avadel Pharmaceuticals has a fifty-two week low of $7.39 and a fifty-two week high of $19.09. The stock has a market capitalization of $810.40 million, a PE ratio of -10.65 and a beta of 1.28.

Wall Street Analysts Forecast Growth

AVDL has been the subject of several research reports. Needham & Company LLC lowered their price objective on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, January 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating and a $12.00 target price for the company. UBS Group dropped their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Piper Sandler dropped their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $19.88.

Insider Activity at Avadel Pharmaceuticals

In other news, Director Peter J. Thornton acquired 10,000 shares of the stock in a transaction dated Monday, January 13th. The shares were bought at an average cost of $8.04 per share, for a total transaction of $80,400.00. Following the purchase, the director now directly owns 104,055 shares of the company's stock, valued at approximately $836,602.20. This trade represents a 10.63 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Palczuk purchased 5,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were acquired at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the transaction, the director now owns 67,900 shares of the company's stock, valued at approximately $538,447. The trade was a 7.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 55,579 shares of company stock valued at $526,363. 4.80% of the stock is owned by insiders.

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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