Avadel Pharmaceuticals plc (NASDAQ:AVDL) Given Average Rating of "Buy" by Brokerages

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) have been assigned a consensus rating of "Buy" from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have covered the stock in the last year is $19.88.

A number of equities analysts have weighed in on AVDL shares. Needham & Company LLC reduced their price target on Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, January 9th. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating and a $12.00 target price for the company. UBS Group cut their price target 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. Finally, Piper Sandler reduced their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, January 10th.

Avadel Pharmaceuticals Price Performance

Shares of AVDL traded up $0.01 during midday trading on Friday, hitting $8.62. The stock had a trading volume of 205,944 shares, compared to its average volume of 1,623,004. The firm has a market cap of $830.62 million, a price-to-earnings ratio of -10.92 and a beta of 1.28. The company has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $12.09. Avadel Pharmaceuticals has a twelve month low of $7.39 and a twelve month high of $19.09.

Insider Activity

In other Avadel Pharmaceuticals news, Director Linda Palczuk acquired 5,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the purchase, the director now directly owns 67,900 shares of the company's stock, valued at approximately $538,447. This represents a 7.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory J. Divis bought 9,598 shares of Avadel Pharmaceuticals stock in a transaction dated Friday, December 6th. The shares were acquired 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 in the company, valued at $95,788.04. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 55,579 shares of company stock valued at $526,363 in the last quarter. Company insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC bought a new position in shares of Avadel Pharmaceuticals during the third quarter worth approximately $31,000. Advisors Asset Management Inc. grew its position in Avadel Pharmaceuticals by 56.1% during the third 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. Hsbc Holdings PLC acquired a new position in Avadel Pharmaceuticals in the 4th quarter valued at $113,000. Kazazian Asset Management LLC bought a new stake in shares of Avadel Pharmaceuticals during the 4th quarter valued at $126,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth $140,000. Institutional investors own 69.19% of the company's stock.

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.