Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Rating Upgraded by Zacks Research

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. UBS Group cut Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Jefferies Financial Group cut shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the company from $22.00 to $20.00 in a report on Wednesday, October 22nd. Needham & Company LLC lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Craig Hallum cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, HC Wainwright lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.13.

Avadel Pharmaceuticals Stock Performance

Shares of Avadel Pharmaceuticals stock opened at $21.50 on Tuesday. The stock’s fifty day moving average price is $21.15 and its 200-day moving average price is $16.12. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.04). The business had revenue of $77.47 million during 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 for the quarter was up 55.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, equities research analysts forecast that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Trading of Avadel Pharmaceuticals

Several large investors have recently added to or reduced their stakes in AVDL. Bridgefront Capital LLC lifted its holdings in shares of Avadel Pharmaceuticals by 3.4% during the third quarter. Bridgefront Capital LLC now owns 28,395 shares of the company’s stock worth $434,000 after purchasing an additional 931 shares during the period. Kovack Advisors Inc. raised 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 buying an additional 1,500 shares during the last quarter. Creative Planning lifted its stake in Avadel Pharmaceuticals by 10.0% during the 2nd quarter. Creative Planning now owns 19,376 shares of the company’s stock valued at $171,000 after acquiring an additional 1,759 shares during the period. Nisa Investment Advisors LLC lifted its stake in Avadel Pharmaceuticals by 164.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after acquiring an additional 2,055 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Avadel Pharmaceuticals by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company’s stock valued at $430,000 after acquiring an additional 2,291 shares during the last quarter. Hedge funds and other 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.