Avadel Pharmaceuticals plc (NASDAQ:AVDL) Receives $24.57 Consensus Target Price from Brokerages

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.57.

A number of research analysts have recently weighed in on the company. Rodman & Renshaw assumed coverage on Avadel Pharmaceuticals in a report on Wednesday, June 12th. They issued a “buy” rating and a $27.00 target price on the stock. Craig Hallum increased their price target on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. HC Wainwright increased their price target on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, May 8th.

Institutional Trading of Avadel Pharmaceuticals

Large investors have recently bought and sold shares of the company. Brandes Investment Partners LP increased its position in Avadel Pharmaceuticals by 5.9% in the fourth quarter. Brandes Investment Partners LP now owns 1,533,614 shares of the company’s stock worth $21,655,000 after buying an additional 84,842 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Avadel Pharmaceuticals in the fourth quarter worth $1,503,000. China Universal Asset Management Co. Ltd. increased its position in Avadel Pharmaceuticals by 349.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock worth $146,000 after buying an additional 8,029 shares during the last quarter. Quarry LP purchased a new stake in Avadel Pharmaceuticals in the fourth quarter worth $120,000. Finally, Kennedy Capital Management LLC increased its position in Avadel Pharmaceuticals by 60.2% in the third quarter. Kennedy Capital Management LLC now owns 715,424 shares of the company’s stock worth $7,369,000 after buying an additional 268,704 shares during the last quarter. 69.19% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Stock Up 4.2 %

AVDL stock opened at $15.89 on Friday. Avadel Pharmaceuticals has a twelve month low of $9.50 and a twelve month high of $19.09. The stock’s 50 day moving average is $15.68 and its 200-day moving average is $15.47. The firm has a market capitalization of $1.53 billion, a PE ratio of -8.54 and a beta of 1.52.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Avadel Pharmaceuticals had a negative net margin of 284.42% and a negative return on equity of 139.72%. The company had revenue of $27.18 million during the quarter, compared to the consensus estimate of $25.89 million. During the same quarter in the prior year, the business earned ($0.48) EPS. The firm’s revenue for the quarter was up 2617.8% compared to the same quarter last year. On average, equities research analysts anticipate that Avadel Pharmaceuticals will post -0.58 earnings per share for the current fiscal year.

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.