Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) has received an average rating of "Buy" from the eight analysts that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.88.
A number of equities research analysts have commented on the company. UBS Group decreased their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Piper Sandler cut their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating and a $12.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of Avadel Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th.
Check Out Our Latest Stock Report on Avadel Pharmaceuticals
Avadel Pharmaceuticals Trading Down 1.8 %
Shares of AVDL traded down $0.13 during midday trading on Friday, hitting $7.13. 1,150,278 shares of the company's stock traded hands, compared to its average volume of 1,234,817. The stock has a market capitalization of $688.96 million, a price-to-earnings ratio of -9.03 and a beta of 1.52. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $19.09. The firm's fifty day moving average is $8.03 and its 200-day moving average is $10.14.
Insider Buying and Selling at Avadel Pharmaceuticals
In related news, Director Peter J. Thornton bought 10,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were purchased at an average cost of $8.04 per share, with a total value of $80,400.00. Following the completion of the acquisition, the director now directly owns 104,055 shares in the company, valued at approximately $836,602.20. The trade was a 10.63 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Palczuk purchased 5,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Tuesday, January 21st. The shares were bought at an average price of $7.93 per share, with a total value of $39,650.00. Following the completion of the transaction, the director now owns 67,900 shares of the company's stock, valued at $538,447. This represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company's stock.
Institutional Investors Weigh In On Avadel Pharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. Invesco Ltd. boosted its holdings in Avadel Pharmaceuticals by 2.3% during the fourth quarter. Invesco Ltd. now owns 52,142 shares of the company's stock worth $548,000 after buying an additional 1,177 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Avadel Pharmaceuticals by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company's stock worth $553,000 after acquiring an additional 1,882 shares in the last quarter. Iridian Asset Management LLC CT grew its position in shares of Avadel Pharmaceuticals by 1.1% during the 4th quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company's stock valued at $1,782,000 after acquiring an additional 1,886 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of Avadel Pharmaceuticals by 10.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company's stock valued at $215,000 after purchasing an additional 1,916 shares in the last quarter. Finally, FMR LLC acquired a new position in Avadel Pharmaceuticals in the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 69.19% of the company's stock.
About Avadel Pharmaceuticals
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Get Free ReportAvadel 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.
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