Avadel Pharmaceuticals (NASDAQ:AVDL) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $17.02 and traded as high as $21.56. Avadel Pharmaceuticals shares last traded at $21.53, with a volume of 1,243,788 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Wells Fargo & Company boosted their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the stock an “equal weight” rating in a research report on Thursday, November 20th. Leerink Partners downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 23rd. Lifesci Capital lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, Zacks Research raised shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Avadel Pharmaceuticals has an average rating of “Hold” and an average target price of $18.86.

Avadel Pharmaceuticals Price Performance

The business has a 50-day moving average of $21.68 and a 200-day moving average of $17.11.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The firm had revenue of $77.47 million for the quarter, compared to the consensus estimate of $78.05 million. Avadel Pharmaceuticals had a negative net margin of 0.11% and a negative return on equity of 0.33%. The company’s revenue was up 55.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. On average, analysts anticipate that Avadel Pharmaceuticals PLC. will post -0.51 EPS for the current year.

Institutional Trading of Avadel Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Avadel Pharmaceuticals by 164.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after buying an additional 2,055 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Avadel Pharmaceuticals by 195.4% during the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after acquiring an additional 2,296 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Avadel Pharmaceuticals during the 3rd quarter valued at $83,000. Raymond James Financial Inc. bought a new position in Avadel Pharmaceuticals in the 2nd quarter valued at $65,000. Finally, CIBC Private Wealth Group LLC bought a new position in Avadel Pharmaceuticals in the 3rd quarter valued at $122,000. Institutional investors own 69.19% of the company’s stock.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc is a global specialty biopharmaceutical company focused on developing and delivering treatments for rare diseases and central nervous system disorders. Headquartered in Dublin, Ireland, with operations in the United States, Avadel’s portfolio centers on sleep disorder therapeutics, including its flagship low-sodium oxybate product, XYWAV, which is approved in the U.S. for the treatment of cataplexy or excessive daytime sleepiness in patients with narcolepsy. The company is also advancing FT218, a once-nightly formulation of sodium oxybate, currently under regulatory review for narcolepsy management.

Formed through a rebranding of Flamel Technologies in 2016 and a strategic shift toward rare disease drug development, Avadel has built its R&D capabilities around improving patient compliance and reducing daily sodium exposure compared to traditional therapies.