Brokerages Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) PT at $19.88

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $19.88.

Several brokerages have recently weighed in on AVDL. Needham & Company LLC reiterated a “buy” rating and set a $19.00 target price on shares of Avadel Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Piper Sandler decreased their target price on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating and a $12.00 target price for the company. Finally, UBS Group decreased their target price on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, January 13th.

Insider Buying and Selling

In related news, Director Peter J. Thornton bought 10,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was bought at an average cost of $8.04 per share, with a total value of $80,400.00. Following the completion of the acquisition, the director now owns 104,055 shares in the company, valued at approximately $836,602.20. This represents a 10.63 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Palczuk bought 5,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was bought at an average cost of $7.93 per share, with a total value of $39,650.00. Following the completion of the acquisition, the director now owns 67,900 shares of the company’s stock, valued at $538,447. This represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC purchased a new position in Avadel Pharmaceuticals in the third quarter valued at about $31,000. Advisors Asset Management Inc. increased its holdings in Avadel Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after buying an additional 2,846 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $113,000. Kazazian Asset Management LLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $126,000. Finally, Sanctuary Advisors LLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $140,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL opened at $8.63 on Wednesday. Avadel Pharmaceuticals has a 1 year low of $7.39 and a 1 year high of $19.09. The company has a market capitalization of $833.91 million, a PE ratio of -10.92 and a beta of 1.57. The company has a fifty day moving average of $8.22 and a two-hundred day moving average of $10.93.

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.