Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by equities researchers at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, The Fly reports.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Avadel Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Wednesday, November 7th. Laidlaw downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a report on Tuesday, November 6th. Finally, ValuEngine raised shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.42.
Shares of NASDAQ:AVDL opened at $2.53 on Friday. The stock has a market capitalization of $120.29 million, a PE ratio of 8.16 and a beta of 1.86. The company has a current ratio of 3.15, a quick ratio of 3.02 and a debt-to-equity ratio of 1.74. Avadel Pharmaceuticals has a fifty-two week low of $1.69 and a fifty-two week high of $9.98.
Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Monday, November 5th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $19.83 million for the quarter, compared to the consensus estimate of $20.11 million. Avadel Pharmaceuticals had a negative net margin of 34.91% and a negative return on equity of 86.08%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its holdings in Avadel Pharmaceuticals by 27.5% during the third quarter. Brandes Investment Partners LP now owns 6,335,548 shares of the company’s stock worth $27,813,000 after buying an additional 1,365,442 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Avadel Pharmaceuticals by 34.2% during the second quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock worth $6,431,000 after buying an additional 267,270 shares in the last quarter. Morgan Stanley boosted its holdings in Avadel Pharmaceuticals by 61.2% during the third quarter. Morgan Stanley now owns 777,272 shares of the company’s stock worth $3,412,000 after buying an additional 295,036 shares in the last quarter. Fosun International Ltd purchased a new stake in Avadel Pharmaceuticals during the fourth quarter worth about $826,000. Finally, Janney Montgomery Scott LLC raised its position in Avadel Pharmaceuticals by 14.8% during the third quarter. Janney Montgomery Scott LLC now owns 227,573 shares of the company’s stock worth $999,000 after acquiring an additional 29,350 shares during the last quarter. 52.98% of the stock is currently owned by hedge funds and other institutional investors.
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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