UBS Group Issues Pessimistic Forecast for Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Price

Avadel Pharmaceuticals (NASDAQ:AVDL - Free Report) had its price target cut by UBS Group from $22.00 to $14.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC dropped their price target on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday. Piper Sandler dropped their target price on Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday. Oppenheimer increased their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, HC Wainwright restated a "buy" rating and set a $21.00 price objective (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday. Seven equities research 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 target price of $21.00.

Avadel Pharmaceuticals Stock Down 1.0 %

Shares of NASDAQ AVDL traded down $0.08 during midday trading on Monday, hitting $7.82. The stock had a trading volume of 3,001,934 shares, compared to its average volume of 2,541,891. Avadel Pharmaceuticals has a 1-year low of $7.39 and a 1-year high of $19.09. The company has a market capitalization of $753.55 million, a price-to-earnings ratio of -9.90 and a beta of 1.31. The company has a fifty day moving average price of $11.27 and a 200 day moving average price of $13.49.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The company had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business's quarterly revenue was up 624.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.41) earnings per share. On average, research analysts forecast that Avadel Pharmaceuticals will post -0.48 EPS for the current year.

Insider Transactions at Avadel Pharmaceuticals

In related news, Director Linda Palczuk purchased 3,000 shares of the business's stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $10.19 per share, with a total value of $30,570.00. Following the acquisition, the director now owns 66,400 shares in the company, valued at approximately $676,616. This trade represents a 4.73 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Geoffrey Michael Glass acquired 20,279 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $9.84 per share, with a total value of $199,545.36. Following the transaction, the director now directly owns 75,904 shares in the company, valued at approximately $746,895.36. This trade represents a 36.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 40,579 shares of company stock worth $406,313. 4.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC bought a new stake in Avadel Pharmaceuticals in the 3rd quarter valued at about $31,000. Amalgamated Bank bought a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at approximately $45,000. Quarry LP acquired a new position in shares of Avadel Pharmaceuticals during the second quarter worth approximately $63,000. Advisors Asset Management Inc. grew its holdings in Avadel Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company's stock worth $104,000 after buying an additional 2,846 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in Avadel Pharmaceuticals in the 3rd quarter worth approximately $160,000. 69.19% of the stock is currently owned by 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.