Avadel Pharmaceuticals (NASDAQ:AVDL) Downgraded by Piper Sandler to “Hold”

Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by stock analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $22.00 to $20.00 in a research note on Wednesday. Wall Street Zen upgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 28th. Craig Hallum downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. HC Wainwright lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research note on Thursday. Finally, Leerink Partners reiterated a “market perform” rating and issued a $18.50 price objective on shares of Avadel Pharmaceuticals in a research note on Thursday. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.72.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $18.56 on Wednesday. Avadel Pharmaceuticals has a one year low of $6.38 and a one year high of $18.65. The company has a 50-day simple moving average of $15.21 and a 200-day simple moving average of $11.50. The firm has a market capitalization of $1.80 billion, a PE ratio of -618.67 and a beta of 1.46.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $68.13 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) EPS. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. Equities analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Trading of Avadel Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in Avadel Pharmaceuticals by 164.5% in the 2nd 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter worth about $65,000. Tower Research Capital LLC TRC increased its position in shares of Avadel Pharmaceuticals by 217.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after purchasing an additional 6,025 shares in the last quarter. Exencial Wealth Advisors LLC acquired a new stake in Avadel Pharmaceuticals in the 1st quarter valued at about $82,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in Avadel Pharmaceuticals in the 1st quarter valued at about $82,000. 69.19% of the stock is owned by institutional investors.

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.