Brokerages Set Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) PT at $20.75

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have received an average recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.7222.

A number of analysts have issued reports on the company. Wells Fargo & Company raised Avadel Pharmaceuticals to a “hold” rating in a research report on Wednesday, September 3rd. Lifesci Capital downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Wednesday, October 22nd. UBS Group downgraded Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday. Finally, Piper Sandler lowered Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVDL. Two Seas Capital LP grew its holdings in Avadel Pharmaceuticals by 24.4% during the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after buying an additional 1,208,625 shares in the last quarter. Geode Capital Management LLC grew its holdings in Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock valued at $19,198,000 after buying an additional 979,422 shares in the last quarter. Brandes Investment Partners LP grew its holdings in Avadel Pharmaceuticals by 14.5% during the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after buying an additional 820,467 shares in the last quarter. Invesco Ltd. grew its holdings in Avadel Pharmaceuticals by 1,407.6% during the 2nd quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock valued at $6,628,000 after buying an additional 699,201 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Avadel Pharmaceuticals during the first quarter worth about $4,055,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Price Performance

NASDAQ:AVDL opened at $18.90 on Thursday. The business has a fifty day simple moving average of $15.60 and a two-hundred day simple moving average of $11.88. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $18.95. The company has a market capitalization of $1.84 billion, a P/E ratio of -630.00 and a beta of 1.46.

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

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.