Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.63 and traded as high as $21.76. Avadel Pharmaceuticals shares last traded at $21.39, with a volume of 35,016,239 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on AVDL. Weiss Ratings reissued a “sell (d-)” rating on shares of Avadel Pharmaceuticals in a report on Monday, December 29th. UBS Group downgraded Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. Zacks Research upgraded Avadel Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Wells Fargo & Company increased their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.50 and gave the company an “equal weight” rating in a report on Thursday, November 20th. Finally, Wall Street Zen downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Avadel Pharmaceuticals has a consensus rating of “Hold” and an average target price of $20.00.

Avadel Pharmaceuticals Stock Down 1.1%

The stock has a 50 day simple moving average of $21.51 and a 200-day simple moving average of $18.63.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. Bridgefront Capital LLC increased its holdings in shares of Avadel Pharmaceuticals by 3.4% in the 3rd quarter. Bridgefront Capital LLC now owns 28,395 shares of the company’s stock worth $434,000 after buying an additional 931 shares during the last quarter. Russell Investments Group Ltd. grew its position in Avadel Pharmaceuticals by 8.3% in the fourth quarter. Russell Investments Group Ltd. now owns 12,625 shares of the company’s stock worth $272,000 after acquiring an additional 967 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Avadel Pharmaceuticals during the fourth quarter worth approximately $27,000. Kovack Advisors Inc. raised its position in Avadel Pharmaceuticals by 13.0% during the second quarter. Kovack Advisors Inc. now owns 13,000 shares of the company’s stock valued at $115,000 after purchasing an additional 1,500 shares during the period. Finally, Creative Planning lifted its stake in shares of Avadel Pharmaceuticals by 10.0% in the 2nd quarter. Creative Planning now owns 19,376 shares of the company’s stock valued at $171,000 after purchasing an additional 1,759 shares during the last quarter. 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.