BidaskClub upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a strong sell rating to a sell rating in a research report report published on Friday.
AVDL has been the topic of a number of other reports. ValuEngine upgraded shares of Avadel Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 2nd. TheStreet lowered shares of Avadel Pharmaceuticals from a c rating to a d+ rating in a report on Thursday, March 8th. Zacks Investment Research lowered shares of Avadel Pharmaceuticals from a hold rating to a sell rating in a report on Friday, February 16th. Finally, Ladenburg Thalmann cut their price objective on shares of Avadel Pharmaceuticals to $24.00 and set a buy rating on the stock in a report on Friday, March 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $20.00.
Shares of Avadel Pharmaceuticals remained flat at $$6.98 during trading hours on Friday, Marketbeat Ratings reports. 210,607 shares of the stock were exchanged, compared to its average volume of 486,169. Avadel Pharmaceuticals has a 12 month low of $6.17 and a 12 month high of $11.93. The firm has a market capitalization of $256.48 million, a price-to-earnings ratio of 22.52 and a beta of 1.54. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.66 and a quick ratio of 2.59.
Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Wednesday, May 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.08). Avadel Pharmaceuticals had a negative return on equity of 13.95% and a net margin of 18.96%. The company had revenue of $33.29 million for the quarter, compared to analyst estimates of $29.60 million. equities research analysts anticipate that Avadel Pharmaceuticals will post -1.55 earnings per share for the current year.
Avadel Pharmaceuticals declared that its Board of Directors has authorized a stock buyback plan on Tuesday, March 27th that allows the company to repurchase $7.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP lifted its holdings in Avadel Pharmaceuticals by 25.9% in the first quarter. GSA Capital Partners LLP now owns 315,960 shares of the company’s stock valued at $2,303,000 after buying an additional 64,927 shares during the period. California Public Employees Retirement System lifted its holdings in Avadel Pharmaceuticals by 10.8% in the first quarter. California Public Employees Retirement System now owns 93,638 shares of the company’s stock valued at $683,000 after buying an additional 9,138 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Avadel Pharmaceuticals by 39.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 36,987 shares of the company’s stock valued at $270,000 after buying an additional 10,490 shares during the period. Trexquant Investment LP lifted its holdings in Avadel Pharmaceuticals by 215.8% in the first quarter. Trexquant Investment LP now owns 45,406 shares of the company’s stock valued at $331,000 after buying an additional 31,030 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in Avadel Pharmaceuticals by 21.0% in the first quarter. Alps Advisors Inc. now owns 53,760 shares of the company’s stock valued at $392,000 after buying an additional 9,342 shares during the period. Institutional investors and hedge funds own 65.12% of the company’s stock.
Avadel Pharmaceuticals Company Profile
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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