Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.57 Consensus PT from Analysts

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has received a consensus rating of “Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.57.

Several research analysts have recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Avadel Pharmaceuticals in a research note on Wednesday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, September 4th.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL opened at $13.20 on Friday. The stock has a market cap of $1.27 billion, a P/E ratio of -7.10 and a beta of 1.50. Avadel Pharmaceuticals has a one year low of $9.50 and a one year high of $19.09. The company has a fifty day moving average price of $14.40 and a 200 day moving average price of $15.56.

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

Institutional Trading of Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in shares of Avadel Pharmaceuticals by 8.2% during the third quarter. Creative Planning now owns 12,381 shares of the company’s stock worth $162,000 after purchasing an additional 938 shares during the period. BNP Paribas Financial Markets raised its position in shares of Avadel Pharmaceuticals by 60.5% during the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after purchasing an additional 1,685 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Avadel Pharmaceuticals by 2.4% during the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,475 shares of the company’s stock worth $1,258,000 after purchasing an additional 2,100 shares during the period. Modera Wealth Management LLC raised its position in Avadel Pharmaceuticals by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock valued at $8,473,000 after buying an additional 2,159 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Avadel Pharmaceuticals in the 1st quarter valued at $51,000. 69.19% of the stock is currently owned by institutional investors.

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.