Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Given Average Recommendation of “Reduce” by Analysts

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have been assigned a consensus recommendation of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.1250.

AVDL has been the topic of several recent research reports. HC Wainwright downgraded Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Thursday, October 23rd. UBS Group cut Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research report on Tuesday. Leerink Partnrs downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. Finally, Craig Hallum lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $23.03 on Monday. Avadel Pharmaceuticals has a one year low of $6.38 and a one year high of $23.57. The company has a 50-day simple moving average of $17.39 and a 200-day simple moving average of $13.27. The firm has a market capitalization of $2.25 billion, a PE ratio of -767.67 and a beta of 1.47.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The business had revenue of $77.47 million during the quarter, compared to the consensus estimate of $78.05 million. During the same period in the prior year, the business earned ($0.03) EPS. The business’s revenue was up 55.0% on a year-over-year basis. Equities analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Trading of Avadel Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its position in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock worth $29,000 after acquiring an additional 2,055 shares during the period. Federated Hermes Inc. lifted its holdings in Avadel Pharmaceuticals by 195.4% in the third quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after purchasing an additional 2,296 shares during the period. State of Alaska Department of Revenue acquired a new stake in Avadel Pharmaceuticals in the third quarter worth about $83,000. Raymond James Financial Inc. bought a new position in Avadel Pharmaceuticals in the 2nd quarter valued at about $65,000. Finally, Tower Research Capital LLC TRC increased its stake in Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after buying an additional 6,025 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.