Avadel Pharmaceuticals plc (NASDAQ:AVDL) Given Consensus Rating of “Buy” by Brokerages

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been given a consensus rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $19.88.

AVDL has been the subject of several analyst reports. Piper Sandler lowered their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Monday, March 3rd. UBS Group cut their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of Avadel Pharmaceuticals in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target for the company.

Avadel Pharmaceuticals Trading Down 5.6 %

Shares of AVDL stock opened at $6.80 on Friday. The stock’s 50-day moving average price is $8.13 and its 200-day moving average price is $10.38. Avadel Pharmaceuticals has a 12-month low of $6.60 and a 12-month high of $19.09. The stock has a market capitalization of $657.08 million, a price-to-earnings ratio of -8.61 and a beta of 1.57.

Insider Buying and Selling at Avadel Pharmaceuticals

In related news, Director Linda Palczuk acquired 5,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were acquired at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the transaction, the director now owns 67,900 shares in the company, valued at approximately $538,447. This trade represents a 7.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Thornton acquired 10,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $80,400.00. Following the purchase, the director now directly owns 104,055 shares in the company, valued at approximately $836,602.20. This trade represents a 10.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVDL. FMR LLC purchased a new position in shares of Avadel Pharmaceuticals in the third quarter valued at approximately $31,000. Hsbc Holdings PLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at $113,000. Kazazian Asset Management LLC acquired a new position in Avadel Pharmaceuticals during the 4th quarter worth approximately $126,000. Sanctuary Advisors LLC purchased a new stake in Avadel Pharmaceuticals during the fourth quarter worth approximately $140,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Avadel Pharmaceuticals in the fourth quarter valued at $163,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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.