Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a sell rating in a research report sent to investors on Monday, Zacks.com reports.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

Several other analysts also recently weighed in on the company. Laidlaw upgraded Avadel Pharmaceuticals from a hold rating to a buy rating and set a $3.00 price target on the stock in a research note on Monday, August 12th. ValuEngine downgraded Avadel Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, September 4th. Finally, LADENBURG THALM/SH SH upgraded Avadel Pharmaceuticals from a neutral rating to a buy rating and set a $6.00 price target on the stock in a research note on Friday, June 14th.

Avadel Pharmaceuticals stock opened at $3.31 on Monday. The company has a debt-to-equity ratio of 41.63, a quick ratio of 2.82 and a current ratio of 2.89. The business’s 50-day simple moving average is $2.27 and its two-hundred day simple moving average is $1.95. The company has a market cap of $123.66 million, a PE ratio of -1.66 and a beta of 1.54. Avadel Pharmaceuticals has a fifty-two week low of $1.03 and a fifty-two week high of $4.83.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $17.55 million for the quarter. Avadel Pharmaceuticals had a negative net margin of 135.48% and a negative return on equity of 608.04%. As a group, analysts predict that Avadel Pharmaceuticals will post -1.19 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley grew its stake in Avadel Pharmaceuticals by 0.7% during the 2nd quarter. Morgan Stanley now owns 717,901 shares of the company’s stock valued at $2,075,000 after purchasing an additional 5,243 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Avadel Pharmaceuticals by 383.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 22,700 shares of the company’s stock valued at $64,000 after buying an additional 18,000 shares during the period. Susquehanna International Group LLP lifted its holdings in shares of Avadel Pharmaceuticals by 263.6% in the 2nd quarter. Susquehanna International Group LLP now owns 98,389 shares of the company’s stock valued at $284,000 after buying an additional 71,328 shares during the period. Brown Capital Management LLC lifted its holdings in shares of Avadel Pharmaceuticals by 8.9% in the 2nd quarter. Brown Capital Management LLC now owns 1,524,428 shares of the company’s stock valued at $4,406,000 after buying an additional 124,421 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Avadel Pharmaceuticals by 21.9% in the 2nd quarter. Renaissance Technologies LLC now owns 802,606 shares of the company’s stock valued at $2,320,000 after buying an additional 144,270 shares during the period. Institutional investors and hedge funds own 51.73% of the company’s stock.

About Avadel Pharmaceuticals

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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