Brokerages Set Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Target Price at $20.86

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have been given an average rating of “Moderate Buy” by the ten brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.8571.

AVDL has been the topic of a number of recent research reports. Lifesci Capital raised Avadel Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, September 3rd. HC Wainwright raised their price objective on Avadel Pharmaceuticals from $24.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Wells Fargo & Company raised Avadel Pharmaceuticals to a “hold” rating in a research report on Wednesday, September 3rd. Wall Street Zen raised Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Avadel Pharmaceuticals in a research report on Saturday, September 27th.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Avadel Pharmaceuticals by 217.5% during the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after acquiring an additional 6,025 shares during the last quarter. Krensavage Asset Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 0.9% during the second quarter. Krensavage Asset Management LLC now owns 958,877 shares of the company’s stock valued at $8,486,000 after acquiring an additional 8,877 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Avadel Pharmaceuticals by 6.7% during the second quarter. MML Investors Services LLC now owns 207,378 shares of the company’s stock valued at $1,835,000 after acquiring an additional 13,072 shares in the last quarter. Man Group plc increased its holdings in shares of Avadel Pharmaceuticals by 101.3% during the second quarter. Man Group plc now owns 57,931 shares of the company’s stock valued at $513,000 after acquiring an additional 29,149 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Avadel Pharmaceuticals by 30.8% in the second quarter. BNP Paribas Financial Markets now owns 22,823 shares of the company’s stock worth $202,000 after buying an additional 5,372 shares during the last quarter. Institutional investors and hedge funds own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Up 0.5%

Shares of Avadel Pharmaceuticals stock opened at $15.01 on Friday. The firm has a market cap of $1.46 billion, a P/E ratio of -500.33 and a beta of 1.46. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $16.66. The stock’s fifty day moving average price is $14.22 and its 200-day moving average price is $10.78.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $68.13 million for the quarter, compared to analyst estimates of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The business’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

About Avadel Pharmaceuticals

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.