Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $21.00 Consensus Target Price from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has received an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $21.00.

A number of equities research analysts have commented on AVDL shares. Needham & Company LLC decreased their price target on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday, January 10th. UBS Group reduced their target price 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. Piper Sandler lowered their price objective 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. Finally, Oppenheimer boosted their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st.

Insider Transactions at Avadel Pharmaceuticals

In related news, CEO Gregory J. Divis purchased 9,598 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $9.98 per share, for a total transaction of $95,788.04. Following the completion of the transaction, the chief executive officer now owns 9,598 shares in the company, valued at $95,788.04. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Geoffrey Michael Glass acquired 20,279 shares of the stock in a transaction on Tuesday, December 10th. The stock was bought at an average price of $9.84 per share, for a total transaction of $199,545.36. Following the transaction, the director now owns 75,904 shares in the company, valued at approximately $746,895.36. This represents a 36.46 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 55,579 shares of company stock worth $526,363 over the last three months. 4.80% of the stock is currently owned by insiders.

Institutional Trading of Avadel Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new position in Avadel Pharmaceuticals in the 3rd quarter valued at $31,000. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals during the second quarter worth about $45,000. Quarry LP purchased a new position in Avadel Pharmaceuticals during the second quarter worth about $63,000. Advisors Asset Management Inc. raised its position in shares of Avadel Pharmaceuticals by 56.1% during the 3rd 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 during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Avadel Pharmaceuticals in the 3rd quarter valued at $160,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Trading Down 1.1 %

NASDAQ:AVDL opened at $7.85 on Tuesday. The company has a 50 day simple moving average of $10.04 and a two-hundred day simple moving average of $13.03. The company has a market cap of $756.43 million, a PE ratio of -9.94 and a beta of 1.31. Avadel Pharmaceuticals has a 12 month low of $7.39 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The firm’s revenue was up 624.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) earnings per share. Research analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

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.