Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $22.57 Average PT from Analysts

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have received an average recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $22.57.

Several research analysts recently issued reports on the company. HC Wainwright increased their price objective on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. UBS Group assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price objective for the company. Oppenheimer increased their target price on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, April 9th. Finally, Craig Hallum upped their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $18.09 on Friday. The business’s 50 day moving average price is $15.60 and its 200-day moving average price is $13.77. Avadel Pharmaceuticals has a fifty-two week low of $9.50 and a fifty-two week high of $18.85. The company has a market cap of $1.64 billion, a P/E ratio of -8.87 and a beta of 1.60.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $19.45 million during the quarter, compared to analyst estimates of $17.41 million. During the same period last year, the business posted ($0.44) EPS. As a group, equities analysts predict that Avadel Pharmaceuticals will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Avadel Pharmaceuticals in the third quarter worth $78,000. Quarry LP purchased a new position in Avadel Pharmaceuticals in the 4th quarter worth $120,000. Claro Advisors LLC acquired a new stake in Avadel Pharmaceuticals during the 1st quarter worth about $172,000. China Universal Asset Management Co. Ltd. grew its stake in Avadel Pharmaceuticals by 349.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock valued at $146,000 after purchasing an additional 8,029 shares during the last quarter. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Avadel Pharmaceuticals in the third quarter valued at about $124,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

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.