Avadel Pharmaceuticals (NASDAQ:AVDL) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $12.00 target price on the stock.

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

Avadel Pharmaceuticals Trading Up 0.9 %

AVDL opened at $8.99 on Tuesday. The stock has a market capitalization of $866.28 million, a PE ratio of -11.38 and a beta of 1.28. Avadel Pharmaceuticals has a 1-year low of $7.39 and a 1-year high of $19.09. The firm has a 50-day moving average price of $9.30 and a two-hundred day moving average price of $12.28.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The firm had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $48.43 million. During the same quarter last year, the company posted ($0.41) EPS. The company’s quarterly revenue was up 624.6% compared to the same quarter last year. On average, research analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory J. Divis purchased 9,598 shares of the business’s stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $9.98 per share, with a total value of $95,788.04. Following the completion of the purchase, the chief executive officer now owns 9,598 shares in the company, valued at $95,788.04. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Linda Palczuk purchased 3,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was bought at an average cost of $10.19 per share, for a total transaction of $30,570.00. Following the purchase, the director now owns 66,400 shares of the company’s stock, valued at approximately $676,616. This represents a 4.73 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 55,579 shares of company stock valued at $526,363 in the last 90 days. 4.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Creative Planning lifted its position in shares of Avadel Pharmaceuticals by 8.2% in the third quarter. Creative Planning now owns 12,381 shares of the company’s stock worth $162,000 after purchasing an additional 938 shares in the last quarter. MAI Capital Management lifted its position in shares of Avadel Pharmaceuticals by 1.0% in the third quarter. MAI Capital Management now owns 107,533 shares of the company’s stock worth $1,410,000 after purchasing an additional 1,031 shares in the last quarter. Invesco Ltd. lifted its position in shares of Avadel Pharmaceuticals by 2.3% in the fourth quarter. Invesco Ltd. now owns 52,142 shares of the company’s stock worth $548,000 after purchasing an additional 1,177 shares in the last quarter. Iridian Asset Management LLC CT lifted its position in shares of Avadel Pharmaceuticals by 1.1% in the fourth quarter. Iridian Asset Management LLC CT now owns 169,586 shares of the company’s stock worth $1,782,000 after purchasing an additional 1,886 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Avadel Pharmaceuticals by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,432 shares of the company’s stock worth $215,000 after purchasing an additional 1,916 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.

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.