Avadel Pharmaceuticals (NASDAQ:AVDL) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.15 and traded as high as $21.76. Avadel Pharmaceuticals shares last traded at $21.39, with a volume of 35,016,239 shares traded.

Wall Street Analysts Forecast Growth

AVDL has been the subject of several research analyst reports. Wells Fargo & Company upped their price objective on Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a report on Thursday, November 20th. Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Avadel Pharmaceuticals Price Performance

The stock has a 50-day simple moving average of $21.50 and a 200 day simple moving average of $19.15.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Avadel Pharmaceuticals by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company’s stock worth $430,000 after buying an additional 2,291 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Avadel Pharmaceuticals during the 1st quarter worth $115,000. Nisa Investment Advisors LLC boosted its stake in Avadel Pharmaceuticals by 164.5% in 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Avadel Pharmaceuticals in the second quarter valued at about $848,000. Finally, Kovack Advisors Inc. increased its position in Avadel Pharmaceuticals by 13.0% during the 2nd quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock worth $115,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds 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.