Avadel Pharmaceuticals (NASDAQ:AVDL) Raised to Hold at Wells Fargo & Company

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by investment analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. UBS Group increased their price target on shares of Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Avadel Pharmaceuticals in a report on Friday, August 8th. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Zacks Research upgraded shares of Avadel Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of Avadel Pharmaceuticals in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $19.14.

Avadel Pharmaceuticals Trading Down 2.1%

Shares of Avadel Pharmaceuticals stock opened at $14.66 on Wednesday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -488.67 and a beta of 1.58. Avadel Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $16.66. The firm’s 50-day moving average price is $11.75 and its two-hundred day moving average price is $9.65.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The firm had revenue of $68.13 million for the quarter, compared to analysts’ expectations of $60.28 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The company’s quarterly revenue was up 64.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Kovack Advisors Inc. increased its position in shares of Avadel Pharmaceuticals by 13.0% during the second quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock worth $115,000 after acquiring an additional 1,500 shares in the last quarter. Creative Planning grew its position in Avadel Pharmaceuticals by 10.0% in the second quarter. Creative Planning now owns 19,376 shares of the company’s stock valued at $171,000 after purchasing an additional 1,759 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Avadel Pharmaceuticals by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,594 shares of the company’s stock valued at $553,000 after purchasing an additional 1,882 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Avadel Pharmaceuticals by 164.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Avadel Pharmaceuticals by 18.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 17,439 shares of the company’s stock valued at $154,000 after purchasing an additional 2,761 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.

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.