Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) Given Average Recommendation of “Hold” by Brokerages

Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) have been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.8571.

AVDL has been the subject of a number of research reports. HC Wainwright downgraded Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research report on Thursday, October 23rd. Leerink Partners cut Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 23rd. Zacks Research upgraded shares of Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen cut shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Piper Sandler lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd.

Avadel Pharmaceuticals Stock Down 0.0%

NASDAQ:AVDL opened at $21.55 on Friday. The firm’s 50 day moving average is $21.54 and its two-hundred day moving average is $17.52. Avadel Pharmaceuticals has a fifty-two week low of $6.38 and a fifty-two week high of $23.57.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.04). The company had revenue of $77.47 million for the quarter, compared to analysts’ expectations of $78.05 million. Avadel Pharmaceuticals had a negative net margin of 0.11% and a negative return on equity of 0.33%. The firm’s quarterly revenue was up 55.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, analysts forecast that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AVDL. TD Waterhouse Canada Inc. acquired a new position in shares of Avadel Pharmaceuticals during the fourth quarter worth about $27,000. Nisa Investment Advisors LLC raised its holdings in shares of 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 buying an additional 2,055 shares during the period. Federated Hermes Inc. lifted its position in Avadel Pharmaceuticals by 195.4% during the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the company’s stock worth $53,000 after acquiring an additional 2,296 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Avadel Pharmaceuticals during the 2nd quarter worth approximately $65,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Avadel Pharmaceuticals by 217.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after acquiring an additional 6,025 shares during the period. 69.19% of the stock is owned by hedge funds and other institutional investors.

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.