Deutsche Bank Aktiengesellschaft Initiates Coverage on Avadel Pharmaceuticals (NASDAQ:AVDL)

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $12.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price objective would suggest a potential upside of 38.14% from the stock's current price.

Several other research analysts have also recently weighed in on AVDL. Needham & Company LLC reduced their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, January 9th. HC Wainwright reiterated a "buy" rating and set a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. Oppenheimer upped their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. UBS Group dropped their target price on Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Finally, Piper Sandler dropped their price objective 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. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Avadel Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $19.88.

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Avadel Pharmaceuticals Stock Down 3.4 %

Shares of Avadel Pharmaceuticals stock traded down $0.30 during trading on Tuesday, reaching $8.69. 618,062 shares of the company were exchanged, compared to its average volume of 1,659,738. Avadel Pharmaceuticals has a twelve month low of $7.39 and a twelve month high of $19.09. The business has a 50-day moving average price of $9.30 and a 200-day moving average price of $12.28. The firm has a market capitalization of $837.08 million, a price-to-earnings ratio of -11.01 and a beta of 1.28.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $50.00 million during the quarter, compared to analysts' expectations of $48.43 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. The company's revenue was up 624.6% on a year-over-year basis. On average, equities research analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Avadel Pharmaceuticals news, Director Geoffrey Michael Glass bought 20,279 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were purchased at an average price of $9.84 per share, with a total value of $199,545.36. Following the acquisition, the director now owns 75,904 shares in the company, valued at $746,895.36. This trade represents a 36.46 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Palczuk bought 5,000 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, January 21st. The stock was acquired at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the acquisition, the director now owns 67,900 shares in the company, valued at approximately $538,447. This represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 55,579 shares of company stock valued at $526,363 over the last 90 days. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Two Seas Capital LP raised its position in Avadel Pharmaceuticals by 90.6% during the 4th quarter. Two Seas Capital LP now owns 4,296,449 shares of the company's stock worth $45,156,000 after purchasing an additional 2,042,669 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Avadel Pharmaceuticals by 21.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,673 shares of the company's stock worth $386,000 after buying an additional 6,445 shares during the period. Hsbc Holdings PLC acquired a new position in Avadel Pharmaceuticals during the 4th quarter worth about $113,000. MML Investors Services LLC lifted its holdings in Avadel Pharmaceuticals by 22.7% during the 4th quarter. MML Investors Services LLC now owns 167,306 shares of the company's stock worth $1,758,000 after buying an additional 30,950 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Avadel Pharmaceuticals by 6.1% during the 4th quarter. MetLife Investment Management LLC now owns 57,068 shares of the company's stock worth $600,000 after buying an additional 3,271 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.