Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) saw some unusual options trading on Tuesday. Stock investors acquired 4,733 call options on the stock. This represents an increase of 92% compared to the typical volume of 2,463 call options.
Avadel Pharmaceuticals Stock Down 0.6 %
Shares of Avadel Pharmaceuticals stock opened at $17.99 on Thursday. The company has a fifty day moving average price of $15.43 and a 200 day moving average price of $13.62. Avadel Pharmaceuticals has a twelve month low of $9.50 and a twelve month high of $18.85.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last posted its earnings results on Monday, March 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $19.45 million during the quarter, compared to analyst estimates of $17.41 million. During the same period in the prior year, the business posted ($0.44) EPS. Equities research analysts expect that Avadel Pharmaceuticals will post -0.46 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Avadel Pharmaceuticals
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. HC Wainwright raised their price objective on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. UBS Group initiated coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, April 9th. Piper Sandler boosted their target price on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Craig Hallum increased their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.57.
Read Our Latest Stock Report on Avadel Pharmaceuticals
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.
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