Analysts Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Price Target at $19.88

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has received an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $19.88.

Several research analysts have recently commented on AVDL shares. HC Wainwright restated a “buy” rating and set a $21.00 price target on shares of Avadel Pharmaceuticals in a research note on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Avadel Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating and a $12.00 target price for the company. UBS Group lowered their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Piper Sandler cut their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th.

Read Our Latest Analysis on AVDL

Institutional Trading of Avadel Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Iridian Asset Management LLC CT increased its stake in shares of Avadel Pharmaceuticals by 47.2% during the 1st quarter. Iridian Asset Management LLC CT now owns 249,586 shares of the company’s stock worth $1,954,000 after purchasing an additional 80,000 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new position in Avadel Pharmaceuticals in the 1st quarter worth about $110,000. Bank of New York Mellon Corp lifted its stake in Avadel Pharmaceuticals by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 234,120 shares of the company’s stock worth $1,833,000 after purchasing an additional 9,025 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in Avadel Pharmaceuticals by 16.4% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 139,975 shares of the company’s stock worth $1,096,000 after buying an additional 19,700 shares in the last quarter. Finally, Wealth Effects LLC raised its holdings in shares of Avadel Pharmaceuticals by 1.1% during the 1st quarter. Wealth Effects LLC now owns 2,369,122 shares of the company’s stock valued at $18,550,000 after buying an additional 24,992 shares in the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Stock Up 0.9 %

NASDAQ:AVDL opened at $8.69 on Thursday. Avadel Pharmaceuticals has a 1-year low of $6.38 and a 1-year high of $19.07. The firm has a market capitalization of $839.71 million, a price-to-earnings ratio of -11.00 and a beta of 1.52. The stock has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $9.63.

Avadel Pharmaceuticals Company Profile

(Get Free Report

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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