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

Analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $12.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 34.68% from the company’s current price.

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

Avadel Pharmaceuticals Trading Down 1.0 %

Shares of AVDL opened at $8.91 on Tuesday. The firm has a market cap of $858.57 million, a PE ratio of -11.28 and a beta of 1.28. The firm has a fifty day simple moving average of $9.30 and a two-hundred day simple moving average of $12.28. 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 earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share 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 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%. The company’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) EPS. As a group, research analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Avadel Pharmaceuticals

In other Avadel Pharmaceuticals news, CEO Gregory J. Divis purchased 9,598 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was purchased 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 owns 9,598 shares in the company, valued at approximately $95,788.04. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Palczuk purchased 3,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average cost of $10.19 per share, with a total value of $30,570.00. Following the acquisition, the director now owns 66,400 shares in the company, valued at $676,616. The trade was a 4.73 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Avadel Pharmaceuticals by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 3,953,247 shares of the company’s stock worth $41,549,000 after purchasing an additional 90,147 shares during the period. Braidwell LP increased its position in shares of Avadel Pharmaceuticals by 16.9% during the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after acquiring an additional 490,300 shares during the period. Wealth Effects LLC increased its position in shares of Avadel Pharmaceuticals by 4.9% during the fourth quarter. Wealth Effects LLC now owns 2,344,130 shares of the company’s stock worth $24,637,000 after acquiring an additional 110,359 shares during the period. Brandes Investment Partners LP increased its position in shares of Avadel Pharmaceuticals by 58.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,173,139 shares of the company’s stock worth $22,840,000 after acquiring an additional 798,415 shares during the period. Finally, State Street Corp increased its position in shares of Avadel Pharmaceuticals by 42.5% during the third quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after acquiring an additional 483,787 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

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.