Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $19.88 Consensus Price Target from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has earned a consensus recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.88.

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 price objective for the company. Piper Sandler reduced their price target 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 price target 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. 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. Finally, UBS Group lowered their price target on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th.

Insiders Place Their Bets

In other news, CEO Gregory J. Divis acquired 9,598 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average cost of $9.98 per share, with a total value of $95,788.04. Following the completion of the purchase, the chief executive officer now directly owns 9,598 shares of the company’s stock, valued at $95,788.04. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Palczuk acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $10.19 per share, for a total transaction of $30,570.00. Following the completion of the purchase, the director now directly owns 66,400 shares of the company’s stock, valued at $676,616. The trade was a 4.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 55,579 shares of company stock worth $526,363 over the last three months. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in Avadel Pharmaceuticals by 5.7% in the fourth quarter. Janus Henderson Group PLC now owns 14,080,219 shares of the company’s stock valued at $148,117,000 after acquiring an additional 753,332 shares during the last quarter. Two Seas Capital LP increased its stake in Avadel Pharmaceuticals by 90.6% in the fourth quarter. Two Seas Capital LP now owns 4,296,449 shares of the company’s stock valued at $45,156,000 after acquiring an additional 2,042,669 shares during the last quarter. Braidwell LP increased its stake in Avadel Pharmaceuticals by 21.2% in the fourth quarter. Braidwell LP now owns 4,105,726 shares of the company’s stock valued at $43,151,000 after acquiring an additional 716,787 shares during the last quarter. Vanguard Group Inc. boosted its position in Avadel Pharmaceuticals by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,953,247 shares of the company’s stock valued at $41,549,000 after buying an additional 90,147 shares in the last quarter. Finally, Wealth Effects LLC boosted its position in Avadel Pharmaceuticals by 4.9% in the fourth 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 in the last quarter. 69.19% of the stock is owned by institutional investors.

Avadel Pharmaceuticals Trading Down 1.5 %

Shares of NASDAQ:AVDL opened at $8.41 on Friday. Avadel Pharmaceuticals has a 1 year low of $7.39 and a 1 year high of $19.09. The business has a fifty day simple moving average of $9.16 and a 200 day simple moving average of $12.01. The firm has a market cap of $810.39 million, a price-to-earnings ratio of -10.65 and a beta of 1.28.

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.