Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.71 Average Target Price from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $24.71.

Several analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a research note on Thursday, October 31st. Oppenheimer increased their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, October 31st.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock opened at $16.30 on Thursday. The stock has a fifty day moving average price of $13.71 and a 200 day moving average price of $15.15. Avadel Pharmaceuticals has a one year low of $10.25 and a one year high of $19.09. The stock has a market cap of $1.57 billion, a P/E ratio of -13.93 and a beta of 1.47.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Avadel Pharmaceuticals by 60.5% in the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after acquiring an additional 1,685 shares during the period. GSA Capital Partners LLP bought a new position in shares of Avadel Pharmaceuticals during the first quarter worth about $804,000. Quantbot Technologies LP bought a new stake in Avadel Pharmaceuticals in the 1st quarter valued at approximately $353,000. Obermeyer Wood Investment Counsel Lllp acquired a new position in Avadel Pharmaceuticals during the 1st quarter worth approximately $4,721,000. Finally, Chilton Capital Management LLC bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $51,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.