Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Recommendation of "Buy" from Brokerages

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.43.

A number of brokerages have recently issued reports on AVDL. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, November 12th. Oppenheimer lifted their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Finally, HC Wainwright dropped their price target on Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. FMR LLC purchased a new position in Avadel Pharmaceuticals during the third quarter valued at $31,000. Amalgamated Bank purchased a new position in Avadel Pharmaceuticals in the second quarter worth about $45,000. Quarry LP bought a new position in shares of Avadel Pharmaceuticals in the second quarter worth approximately $63,000. Advisors Asset Management Inc. boosted its stake in Avadel Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company's stock valued at $104,000 after purchasing an additional 2,846 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC bought a new stake in Avadel Pharmaceuticals in the 2nd quarter worth about $146,000. Hedge funds and other institutional investors own 69.19% of the company's stock.

Avadel Pharmaceuticals Stock Up 4.3 %

Avadel Pharmaceuticals stock traded up $0.48 during midday trading on Monday, hitting $11.54. 464,326 shares of the stock were exchanged, compared to its average volume of 1,189,095. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -14.58 and a beta of 1.47. The business's 50-day moving average price is $12.95 and its 200-day moving average price is $14.55. Avadel Pharmaceuticals has a 52-week low of $10.41 and a 52-week high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. 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 firm earned ($0.41) EPS. Avadel Pharmaceuticals's revenue for the quarter was up 624.6% on a year-over-year basis. On average, sell-side analysts predict that Avadel Pharmaceuticals will post -0.48 earnings per share for the current fiscal year.

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.