Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Lowered to Buy at Wall Street Zen

Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Several other brokerages have also recently weighed in on AVDL. Leerink Partnrs cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group cut Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $20.00 in a report on Wednesday, October 22nd. Piper Sandler cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Craig Hallum cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Finally, UBS Group increased their price objective on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.72.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock opened at $18.56 on Friday. The stock has a market capitalization of $1.80 billion, a PE ratio of -618.67 and a beta of 1.46. Avadel Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $18.65. The business has a 50-day moving average of $15.31 and a 200 day moving average of $11.64.

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

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in Avadel Pharmaceuticals in the 3rd quarter worth approximately $83,000. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Avadel Pharmaceuticals by 69.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 85,544 shares of the company’s stock valued at $1,306,000 after purchasing an additional 35,208 shares during the period. Edge Wealth Management LLC lifted its stake in shares of Avadel Pharmaceuticals by 20.0% in the 3rd quarter. Edge Wealth Management LLC now owns 30,000 shares of the company’s stock valued at $458,000 after purchasing an additional 5,000 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Avadel Pharmaceuticals by 217.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock valued at $78,000 after purchasing an additional 6,025 shares during the period. Finally, Krensavage Asset Management LLC lifted its stake in shares of Avadel Pharmaceuticals by 0.9% in the 2nd quarter. Krensavage Asset Management LLC now owns 958,877 shares of the company’s stock valued at $8,486,000 after purchasing an additional 8,877 shares during the period. Hedge funds and other 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.