A number of other brokerages have also recently weighed in on AVDL. Piper Sandler increased their price target on shares of Avadel Pharmaceuticals from $14.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Stifel Nicolaus began coverage on shares of Avadel Pharmaceuticals in a research note on Thursday, March 12th. They set a “buy” rating and a $14.00 target price for the company. Zacks Investment Research lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Craig Hallum increased their price objective on Avadel Pharmaceuticals from $18.00 to $13.50 in a research report on Friday, April 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.61.
NASDAQ AVDL opened at $7.94 on Wednesday. The firm’s fifty day moving average price is $8.36 and its 200 day moving average price is $8.09. Avadel Pharmaceuticals has a 12 month low of $1.82 and a 12 month high of $13.49. The company has a debt-to-equity ratio of 3.84, a current ratio of 4.05 and a quick ratio of 3.94. The company has a market capitalization of $297.35 million, a price-to-earnings ratio of -14.18 and a beta of 1.36.
Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.25. The firm had revenue of $12.24 million for the quarter, compared to analysts’ expectations of $10.25 million. As a group, sell-side analysts forecast that Avadel Pharmaceuticals will post -0.48 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in AVDL. Steward Partners Investment Advisory LLC grew its position in Avadel Pharmaceuticals by 40.7% during the first quarter. Steward Partners Investment Advisory LLC now owns 6,050 shares of the company’s stock worth $48,000 after buying an additional 1,750 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $4,152,000. UBS Group AG grew its holdings in shares of Avadel Pharmaceuticals by 62.2% in the 4th quarter. UBS Group AG now owns 7,220 shares of the company’s stock worth $54,000 after acquiring an additional 2,770 shares during the period. Perceptive Advisors LLC purchased a new position in Avadel Pharmaceuticals in the 4th quarter valued at approximately $66,000. Finally, Blair William & Co. IL purchased a new position in Avadel Pharmaceuticals in the 1st quarter valued at approximately $135,000. 73.45% of the stock is currently owned by hedge funds and other institutional investors.
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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