Avadel Pharmaceuticals (NASDAQ:AVDL) Given New $14.00 Price Target at UBS Group

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target decreased by stock analysts at UBS Group from $22.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 78.80% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on AVDL. Piper Sandler decreased 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. Needham & Company LLC lowered their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer boosted their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Avadel Pharmaceuticals has a consensus rating of “Buy” and an average target price of $21.00.

Avadel Pharmaceuticals Price Performance

AVDL traded down $0.07 during midday trading on Monday, hitting $7.83. 2,006,488 shares of the company’s stock traded hands, compared to its average volume of 2,388,961. The company has a market cap of $754.51 million, a PE ratio of -9.91 and a beta of 1.31. Avadel Pharmaceuticals has a one year low of $7.39 and a one year high of $19.09. The stock’s fifty day simple moving average is $11.27 and its 200-day simple moving average is $13.49.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. Avadel Pharmaceuticals’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) EPS. On average, research analysts expect that Avadel Pharmaceuticals will post -0.48 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Thomas S. Mchugh bought 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $10.49 per share, for a total transaction of $52,450.00. Following the acquisition, the chief financial officer now owns 85,500 shares of the company’s stock, valued at approximately $896,895. This represents a 6.21 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory J. Divis purchased 9,598 shares of Avadel Pharmaceuticals stock in a transaction dated Friday, December 6th. The stock was bought at an average price of $9.98 per share, with a total value of $95,788.04. Following the acquisition, the chief executive officer now directly owns 9,598 shares of the company’s stock, valued at approximately $95,788.04. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 40,579 shares of company stock worth $406,313. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently bought and sold shares of AVDL. FMR LLC bought a new stake in shares of Avadel Pharmaceuticals in the third quarter worth $31,000. Amalgamated Bank bought a new stake in Avadel Pharmaceuticals during the 2nd quarter worth about $45,000. Quarry LP acquired a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth about $63,000. Advisors Asset Management Inc. increased its position in shares of 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 acquiring an additional 2,846 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Avadel Pharmaceuticals during the third quarter valued at approximately $160,000. Institutional investors own 69.19% of the company’s stock.

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.