Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.43 Average PT from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been given a consensus recommendation of “Buy” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.43.

A number of research firms have recently weighed in on AVDL. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, November 12th. HC Wainwright lowered their target price on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Oppenheimer raised their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st.

Insiders Place Their Bets

In related news, CFO Thomas S. Mchugh acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $10.49 per share, for a total transaction of $52,450.00. Following the transaction, the chief financial officer now directly owns 85,500 shares of the company’s stock, valued at approximately $896,895. This trade represents a 6.21 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory J. Divis acquired 9,598 shares of Avadel Pharmaceuticals stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $9.98 per share, for a total transaction of $95,788.04. Following the completion of the transaction, the chief executive officer now directly owns 9,598 shares of the company’s stock, valued at approximately $95,788.04. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 40,579 shares of company stock worth $406,313. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of Avadel Pharmaceuticals in the second quarter worth approximately $4,575,000. XTX Topco Ltd purchased a new position in Avadel Pharmaceuticals during the third quarter worth approximately $642,000. Barclays PLC boosted its holdings in shares of Avadel Pharmaceuticals by 45.8% in the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after purchasing an additional 123,430 shares during the last quarter. State Street Corp grew its stake in shares of Avadel Pharmaceuticals by 42.5% during the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in shares of Avadel Pharmaceuticals by 23.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock worth $6,414,000 after buying an additional 94,239 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Down 0.8 %

NASDAQ AVDL opened at $10.53 on Friday. The firm’s fifty day simple moving average is $11.89 and its two-hundred day simple moving average is $13.83. Avadel Pharmaceuticals has a 12-month low of $9.41 and a 12-month high of $19.09. The firm has a market capitalization of $1.01 billion, a P/E ratio of -13.33 and a beta of 1.32.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts predict that Avadel Pharmaceuticals will post -0.48 earnings per share for the current fiscal 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.