Avadel Pharmaceuticals (NASDAQ:AVDL) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 32.01% from the company’s current price.

Other equities analysts have also recently issued reports about the company. UBS Group reduced their target price on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Oppenheimer boosted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler reduced their target price on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reduced their target price on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, January 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $19.88.

Avadel Pharmaceuticals Price Performance

Shares of AVDL opened at $9.09 on Tuesday. The firm has a market cap of $875.91 million, a PE ratio of -11.51 and a beta of 1.28. The stock’s fifty day moving average price is $9.34 and its two-hundred day moving average price is $12.36. Avadel Pharmaceuticals has a 1 year low of $7.39 and a 1 year high of $19.09.

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

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, Director Linda Palczuk bought 5,000 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, January 21st. The shares were purchased at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the acquisition, the director now owns 67,900 shares of the company’s stock, valued at approximately $538,447. The trade was a 7.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory J. Divis bought 9,598 shares of Avadel Pharmaceuticals stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $9.98 per share, for a total transaction of $95,788.04. Following the acquisition, the chief executive officer now directly owns 9,598 shares in the company, valued at approximately $95,788.04. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders acquired 55,579 shares of company stock valued at $526,363 in the last 90 days. Insiders own 4.80% of the company’s stock.

Institutional Trading of Avadel Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Braidwell LP grew its stake in shares of Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after buying an additional 490,300 shares during the last quarter. Wealth Effects LLC lifted its holdings in shares of Avadel Pharmaceuticals by 4.9% during the 4th quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock valued at $24,637,000 after buying an additional 110,359 shares during the period. Brandes Investment Partners LP lifted its holdings in shares of Avadel Pharmaceuticals by 58.1% during the 4th quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock valued at $22,840,000 after buying an additional 798,415 shares during the period. State Street Corp lifted its holdings in shares of Avadel Pharmaceuticals by 42.5% during the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares during the period. Finally, Modera Wealth Management LLC lifted its holdings in shares of Avadel Pharmaceuticals by 29.6% during the 4th quarter. Modera Wealth Management LLC now owns 782,567 shares of the company’s stock valued at $8,225,000 after buying an additional 178,601 shares during the period. Hedge funds and other institutional investors own 69.19% of the company’s stock.

About Avadel Pharmaceuticals

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.