Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target Raised to $30.00

Avadel Pharmaceuticals (NASDAQ:AVDLFree Report) had its price target increased by Oppenheimer from $29.00 to $30.00 in a report issued on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on AVDL. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research note on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Avadel Pharmaceuticals in a report on Monday, October 21st. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.71.

Read Our Latest Research Report on Avadel Pharmaceuticals

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $15.05 on Thursday. The firm’s 50 day moving average is $13.69 and its 200 day moving average is $15.28. Avadel Pharmaceuticals has a 12 month low of $9.98 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $37.47 million. Avadel Pharmaceuticals had a negative net margin of 111.64% and a negative return on equity of 122.64%. Avadel Pharmaceuticals’s revenue was up 2666.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.70) EPS. On average, equities research analysts predict that Avadel Pharmaceuticals will post -0.5 earnings per share for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of Avadel Pharmaceuticals by 10.7% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 99,075 shares of the company’s stock worth $1,299,000 after buying an additional 9,600 shares during the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 167,700 shares of the company’s stock worth $2,199,000 after buying an additional 50,000 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Avadel Pharmaceuticals by 8.3% in the 3rd quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock worth $418,000 after buying an additional 2,432 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of Avadel Pharmaceuticals by 64.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock worth $243,000 after buying an additional 7,224 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Avadel Pharmaceuticals by 379.2% in the 3rd quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock worth $644,000 after buying an additional 38,837 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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