Avadel Pharmaceuticals’ (AVDL) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research report sent to investors on Thursday, Benzinga reports. HC Wainwright currently has a $27.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Oppenheimer lifted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $24.71.

Avadel Pharmaceuticals Price Performance

AVDL traded up $0.11 during trading on Thursday, reaching $15.58. 145,906 shares of the stock were exchanged, compared to its average volume of 1,144,466. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.22 and a beta of 1.50. Avadel Pharmaceuticals has a 1 year low of $9.98 and a 1 year high of $19.09. The business’s 50 day moving average price is $13.74 and its two-hundred day moving average price is $15.28.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The business had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $37.47 million. During the same quarter last year, the firm earned ($0.70) earnings per share. The business’s revenue was up 2666.7% on a year-over-year basis. On average, analysts anticipate that Avadel Pharmaceuticals will post -0.5 EPS for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of Avadel Pharmaceuticals by 10.7% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 99,075 shares of the company’s stock worth $1,299,000 after buying an additional 9,600 shares during the period. Iridian Asset Management LLC CT grew its holdings in Avadel Pharmaceuticals by 42.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 167,700 shares of the company’s stock valued at $2,199,000 after buying an additional 50,000 shares during the last quarter. Diversify Wealth Management LLC raised its stake in Avadel Pharmaceuticals by 8.3% during the 3rd quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock valued at $418,000 after purchasing an additional 2,432 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Avadel Pharmaceuticals by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock worth $243,000 after purchasing an additional 7,224 shares during the period. Finally, Claro Advisors LLC raised its position in shares of Avadel Pharmaceuticals by 379.2% during the third quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock valued at $644,000 after buying an additional 38,837 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.