Analysts Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Target Price at $19.88

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $19.88.

AVDL has been the subject of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Piper Sandler lowered their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. UBS Group cut their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating and a $12.00 price objective on the stock.

Insider Activity

In other Avadel Pharmaceuticals news, CEO Gregory J. Divis acquired 9,598 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $9.98 per share, with a total value of $95,788.04. Following the purchase, the chief executive officer now owns 9,598 shares of the company’s stock, valued at approximately $95,788.04. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Palczuk bought 3,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $10.19 per share, for a total transaction of $30,570.00. Following the acquisition, the director now owns 66,400 shares in the company, valued at $676,616. The trade was a 4.73 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 55,579 shares of company stock worth $526,363. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. FMR LLC purchased a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at about $31,000. Advisors Asset Management Inc. lifted its position in Avadel Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Avadel Pharmaceuticals during the fourth quarter valued at approximately $113,000. Kazazian Asset Management LLC bought a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $126,000. Finally, Aigen Investment Management LP purchased a new position in shares of Avadel Pharmaceuticals in the third quarter worth $160,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Down 0.7 %

Shares of NASDAQ:AVDL opened at $8.41 on Friday. The company has a 50 day moving average of $9.08 and a 200 day moving average of $11.93. The stock has a market cap of $810.39 million, a P/E ratio of -10.65 and a beta of 1.28. Avadel Pharmaceuticals has a 12 month low of $7.39 and a 12 month high of $19.09.

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.