Avadel Pharmaceuticals (NASDAQ:AVDL) Sets New 52-Week Low - What's Next?

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $7.31 and last traded at $7.39, with a volume of 59796 shares trading hands. The stock had previously closed at $7.51.

Analyst Ratings Changes

Several equities analysts recently issued reports on AVDL shares. HC Wainwright restated a "buy" rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 target price for the company. Piper Sandler lowered their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Finally, UBS Group decreased their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $19.88.

Avadel Pharmaceuticals Stock Performance

The company has a market cap of $632.92 million, a price-to-earnings ratio of -8.37 and a beta of 1.52. The firm's 50-day moving average price is $8.13 and its 200 day moving average price is $10.36.

Insider Transactions at Avadel Pharmaceuticals

In other news, Director Peter J. Thornton acquired 10,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average price of $8.04 per share, for a total transaction of $80,400.00. Following the transaction, the director now directly owns 104,055 shares in the company, valued at approximately $836,602.20. This represents a 10.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda Palczuk acquired 5,000 shares of the company's stock in a transaction that occurred 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 purchase, the director now directly owns 67,900 shares in the company, valued at $538,447. This trade represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company's stock.

Institutional Trading of Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. FMR LLC acquired a new position in shares of Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Hsbc Holdings PLC bought a new stake in Avadel Pharmaceuticals in the 4th quarter valued at $113,000. Kazazian Asset Management LLC acquired a new position in Avadel Pharmaceuticals in the 4th quarter worth $126,000. Sanctuary Advisors LLC bought a new position in Avadel Pharmaceuticals during the 4th quarter worth about $140,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth about $163,000. 69.19% of the stock is 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.