Avadel Pharmaceuticals (NASDAQ:AVDL) Lifted to Buy at Laidlaw

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Laidlaw upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a buy rating in a report released on Monday, The Fly reports. They currently have $3.00 price objective on the stock.

Several other equities research analysts have also issued reports on AVDL. ValuEngine raised shares of Avadel Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, August 1st. LADENBURG THALM/SH SH raised shares of Avadel Pharmaceuticals from a neutral rating to a buy rating and set a $6.00 price target on the stock in a report on Friday, June 14th. Finally, Zacks Investment Research raised shares of Avadel Pharmaceuticals from a sell rating to a hold rating in a report on Monday, May 20th.

Shares of Avadel Pharmaceuticals stock opened at $1.92 on Monday. The business has a fifty day moving average price of $2.29. The company has a debt-to-equity ratio of 41.63, a current ratio of 3.27 and a quick ratio of 3.13. Avadel Pharmaceuticals has a 1-year low of $1.03 and a 1-year high of $5.25. The firm has a market capitalization of $72.84 million, a PE ratio of -0.96 and a beta of 1.63.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $17.55 million during the quarter. Avadel Pharmaceuticals had a negative net margin of 135.48% and a negative return on equity of 318.48%. On average, equities research analysts anticipate that Avadel Pharmaceuticals will post -1.12 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of AVDL. Morgan Stanley increased its stake in Avadel Pharmaceuticals by 0.7% during the 2nd quarter. Morgan Stanley now owns 717,901 shares of the company’s stock worth $2,075,000 after purchasing an additional 5,243 shares in the last quarter. Brown Capital Management LLC grew its stake in shares of Avadel Pharmaceuticals by 8.9% during the 2nd quarter. Brown Capital Management LLC now owns 1,524,428 shares of the company’s stock worth $4,406,000 after acquiring an additional 124,421 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Avadel Pharmaceuticals by 21.9% during the 2nd quarter. Renaissance Technologies LLC now owns 802,606 shares of the company’s stock worth $2,320,000 after acquiring an additional 144,270 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Avadel Pharmaceuticals by 383.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 22,700 shares of the company’s stock worth $64,000 after acquiring an additional 18,000 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $434,000. 52.74% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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