Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives Average Rating of "Buy" from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Get Free Report) has been given a consensus rating of "Buy" by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have covered the stock in the last year is $24.57.

AVDL has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Wednesday, September 4th. Rodman & Renshaw initiated coverage on Avadel Pharmaceuticals in a report on Wednesday, June 12th. They set a "buy" rating and a $27.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of Avadel Pharmaceuticals in a report on Wednesday, August 28th.

Avadel Pharmaceuticals Stock Down 1.3 %

Avadel Pharmaceuticals stock traded down $0.18 during midday trading on Wednesday, hitting $13.65. The company's stock had a trading volume of 835,344 shares, compared to its average volume of 1,200,929. The stock's 50-day moving average price is $15.68 and its 200-day moving average price is $15.98. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09. The company has a market capitalization of $1.31 billion, a PE ratio of -7.44 and a beta of 1.53.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative net margin of 111.64% and a negative return on equity of 122.64%. The firm had revenue of $41.50 million for the quarter, compared to analysts' expectations of $37.47 million. During the same period in the previous year, the business earned ($0.70) earnings per share. Avadel Pharmaceuticals's revenue for the quarter was up 2666.7% compared to the same quarter last year. As a group, equities analysts anticipate that Avadel Pharmaceuticals will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Large investors have recently made changes to their positions in the business. Chilton Capital Management LLC bought a new stake in shares of Avadel Pharmaceuticals in the 1st quarter valued at approximately $51,000. Amalgamated Bank bought a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $45,000. BNP Paribas Financial Markets grew its stake in shares of Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company's stock valued at $75,000 after buying an additional 1,685 shares in the last quarter. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $63,000. Finally, Claro Advisors LLC bought a new stake in shares of Avadel Pharmaceuticals in the 1st quarter valued at approximately $172,000. Institutional investors and hedge funds 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.