Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) was the recipient of some unusual options trading on Thursday. Stock investors bought 21,434 put options on the company. This is an increase of approximately 817% compared to the average daily volume of 2,337 put options.
Avadel Pharmaceuticals Trading Up 16.7 %
NASDAQ AVDL traded up $2.15 on Thursday, hitting $15.06. 2,947,512 shares of the stock traded hands, compared to its average volume of 1,138,933. The stock has a 50-day moving average of $13.74 and a 200 day moving average of $15.28. Avadel Pharmaceuticals has a twelve month low of $9.69 and a twelve month high of $19.09. The company has a market capitalization of $1.45 billion, a P/E ratio of -8.00 and a beta of 1.50.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $37.47 million. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. Avadel Pharmaceuticals’s revenue for the quarter was up 2666.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.70) earnings per share. As a group, equities research analysts expect that Avadel Pharmaceuticals will post -0.5 earnings per share for the current year.
Institutional Trading of Avadel Pharmaceuticals
Wall Street Analyst Weigh In
A number of brokerages recently commented on AVDL. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Thursday. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Avadel Pharmaceuticals in a research note on Monday, October 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.57.
Read Our Latest Report on Avadel Pharmaceuticals
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.
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