Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.43 Consensus Price Target from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) has received a consensus recommendation of "Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $24.43.

AVDL has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. Oppenheimer raised their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, HC Wainwright decreased their target price on Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other Avadel Pharmaceuticals news, Director Geoffrey Michael Glass purchased 20,279 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was purchased at an average price of $9.84 per share, for a total transaction of $199,545.36. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory J. Divis acquired 9,598 shares of the company's stock in a transaction on Friday, December 6th. The shares were bought at an average price of $9.98 per share, with a total value of $95,788.04. Following the completion of the purchase, the chief executive officer now directly owns 9,598 shares of the company's stock, valued at approximately $95,788.04. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 40,579 shares of company stock valued at $406,313 over the last ninety days. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Braidwell LP lifted its holdings in Avadel Pharmaceuticals by 16.9% during the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company's stock worth $44,446,000 after buying an additional 490,300 shares in the last quarter. State Street Corp boosted its stake in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company's stock valued at $21,290,000 after purchasing an additional 483,787 shares during the last quarter. Brandes Investment Partners LP raised its stake in shares of Avadel Pharmaceuticals by 1.5% during the second quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company's stock worth $20,894,000 after buying an additional 21,214 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Avadel Pharmaceuticals by 23.9% in the third quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company's stock valued at $6,414,000 after acquiring an additional 94,239 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company's stock valued at $5,150,000 after acquiring an additional 123,430 shares during the last quarter. Institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ:AVDL traded down $0.08 during midday trading on Friday, hitting $10.53. 493,912 shares of the stock were exchanged, compared to its average volume of 1,186,754. The company has a market capitalization of $1.01 billion, a PE ratio of -13.33 and a beta of 1.32. Avadel Pharmaceuticals has a 52-week low of $9.41 and a 52-week high of $19.09. The business's fifty day simple moving average is $11.95 and its two-hundred day simple moving average is $13.87.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping 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 company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. During the same period last year, the business earned ($0.41) EPS. The business's quarterly revenue was up 624.6% on a year-over-year basis. As a group, equities analysts anticipate that Avadel Pharmaceuticals will post -0.48 EPS for the current year.

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.