Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target Cut to $14.00 by Analysts at UBS Group

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price objective reduced by UBS Group from $22.00 to $14.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

AVDL has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday. Oppenheimer upped their price target 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. Piper Sandler decreased their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Needham & Company LLC dropped their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.00.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $7.82 on Monday. The firm has a market cap of $753.55 million, a P/E ratio of -9.90 and a beta of 1.31. Avadel Pharmaceuticals has a 1 year low of $7.39 and a 1 year high of $19.09. The firm’s 50 day moving average price is $11.27 and its 200 day moving average price is $13.49.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to analysts’ expectations of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The business’s revenue was up 624.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) earnings per share. As a group, equities analysts predict that Avadel Pharmaceuticals will post -0.48 EPS for the current year.

Insider Activity

In related news, Director Geoffrey Michael Glass bought 20,279 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were acquired at an average cost of $9.84 per share, for a total transaction of $199,545.36. Following the acquisition, the director now owns 75,904 shares in the company, valued at $746,895.36. This represents a 36.46 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas S. Mchugh purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average price of $10.49 per share, with a total value of $52,450.00. Following the acquisition, the chief financial officer now owns 85,500 shares in the company, valued at $896,895. This trade represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 40,579 shares of company stock valued at $406,313. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in AVDL. XTX Topco Ltd purchased a new position in Avadel Pharmaceuticals in the 3rd quarter valued at about $642,000. State Street Corp lifted its stake in shares of Avadel Pharmaceuticals by 42.5% in 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 in the last quarter. Barclays PLC boosted its holdings in Avadel Pharmaceuticals by 45.8% in the third quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after purchasing an additional 123,430 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Avadel Pharmaceuticals by 23.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock valued at $6,414,000 after purchasing an additional 94,239 shares in the last quarter. Finally, Troluce Capital Advisors LLC acquired a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at approximately $2,109,000. 69.19% of the stock is owned by institutional investors and hedge funds.

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.