Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Increased to Buy at LADENBURG THALM/SH SH

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by research analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, The Fly reports.

Several other analysts have also recently weighed in on AVDL. Laidlaw set a $2.00 price objective on shares of Avadel Pharmaceuticals and gave the stock a “hold” rating in a research note on Monday, March 18th. Zacks Investment Research cut shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Avadel Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $5.08.

NASDAQ AVDL opened at $2.65 on Friday. The firm has a market cap of $112.52 million, a price-to-earnings ratio of -1.33 and a beta of 1.17. Avadel Pharmaceuticals has a fifty-two week low of $1.03 and a fifty-two week high of $7.97. The company has a current ratio of 3.27, a quick ratio of 3.13 and a debt-to-equity ratio of 41.63.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. The firm had revenue of $16.44 million for the quarter. Avadel Pharmaceuticals had a negative net margin of 111.19% and a negative return on equity of 215.96%. As a group, sell-side analysts predict that Avadel Pharmaceuticals will post -1.12 earnings per share for the current year.

Several institutional investors have recently modified their holdings of AVDL. Brandes Investment Partners LP grew its stake in shares of Avadel Pharmaceuticals by 12.4% in the fourth quarter. Brandes Investment Partners LP now owns 7,119,054 shares of the company’s stock worth $18,367,000 after purchasing an additional 783,506 shares during the last quarter. Broadfin Capital LLC grew its stake in shares of Avadel Pharmaceuticals by 11.1% in the fourth quarter. Broadfin Capital LLC now owns 3,102,673 shares of the company’s stock worth $8,005,000 after purchasing an additional 309,900 shares during the last quarter. Morgan Stanley boosted its position in Avadel Pharmaceuticals by 61.2% during the third quarter. Morgan Stanley now owns 777,272 shares of the company’s stock valued at $3,412,000 after acquiring an additional 295,036 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Avadel Pharmaceuticals during the fourth quarter valued at $253,000. Finally, Millennium Management LLC bought a new stake in Avadel Pharmaceuticals during the fourth quarter valued at $189,000. 53.29% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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