Analysts Set Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Price Target at $18.86

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) has been given a consensus rating of “Hold” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.8571.

Several research analysts recently issued reports on the stock. UBS Group lowered shares of Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Lifesci Capital lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Jefferies Financial Group cut Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their price target for the stock from $22.00 to $20.00 in a research report on Wednesday, October 22nd. Zacks Research raised Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Craig Hallum cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd.

Avadel Pharmaceuticals Stock Performance

AVDL opened at $21.57 on Friday. The business has a 50 day moving average of $21.49 and a 200-day moving average of $17.80. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data 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 0.33% and a negative net margin of 0.11%.The firm had revenue of $77.47 million during the quarter, compared to the consensus estimate of $78.05 million. During the same quarter last year, the company posted ($0.03) EPS. Avadel Pharmaceuticals’s revenue for the quarter was up 55.0% compared to the same quarter last year. As a group, analysts expect that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Two Seas Capital LP increased its position in shares of Avadel Pharmaceuticals by 24.4% during the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after acquiring an additional 1,208,625 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Avadel Pharmaceuticals by 828.2% in the 3rd quarter. Bank of America Corp DE now owns 1,338,742 shares of the company’s stock worth $20,443,000 after purchasing an additional 1,194,509 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Avadel Pharmaceuticals by 82.3% in the second quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after purchasing an additional 979,422 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in shares of Avadel Pharmaceuticals by 14.5% during the second quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after purchasing an additional 820,467 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Avadel Pharmaceuticals by 1,407.6% during the second quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock valued at $6,628,000 after buying an additional 699,201 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.