Avadel Pharmaceuticals (NASDAQ:AVDL) PT Lowered to $13.00

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) had its price objective cut by stock analysts at HC Wainwright from $17.00 to $13.00 in a report issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 446.22% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Craig Hallum dropped their price target on Avadel Pharmaceuticals from $22.50 to $20.00 in a research report on Thursday, March 17th. SVB Leerink decreased their price objective on Avadel Pharmaceuticals from $18.00 to $6.00 and set an “outperform” rating on the stock in a research note on Friday. Zacks Investment Research raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, March 21st. Stifel Nicolaus lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the company from $9.00 to $2.00 in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Avadel Pharmaceuticals in a research note on Friday, March 18th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.20.

Shares of Avadel Pharmaceuticals stock traded up $1.31 during trading hours on Friday, hitting $2.38. 3,051,427 shares of the company were exchanged, compared to its average volume of 734,713. Avadel Pharmaceuticals has a 1 year low of $1.05 and a 1 year high of $11.59. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 2.11. The business has a 50-day moving average of $5.54 and a 200-day moving average of $6.93. The stock has a market capitalization of $140.50 million, a price-to-earnings ratio of -1.57 and a beta of 1.13.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.01). As a group, research analysts anticipate that Avadel Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of AVDL. Kestra Advisory Services LLC lifted its stake in shares of Avadel Pharmaceuticals by 236.5% in the 4th quarter. Kestra Advisory Services LLC now owns 33,650 shares of the company’s stock valued at $272,000 after purchasing an additional 23,650 shares in the last quarter. BioImpact Capital LLC acquired a new position in shares of Avadel Pharmaceuticals in the 3rd quarter valued at about $3,920,000. GSA Capital Partners LLP lifted its stake in shares of Avadel Pharmaceuticals by 8.0% in the 3rd quarter. GSA Capital Partners LLP now owns 57,148 shares of the company’s stock valued at $560,000 after purchasing an additional 4,215 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Avadel Pharmaceuticals by 168.7% in the 4th quarter. Lazard Asset Management LLC now owns 157,637 shares of the company’s stock valued at $1,273,000 after purchasing an additional 98,965 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Avadel Pharmaceuticals by 8.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 44,758 shares of the company’s stock valued at $362,000 after purchasing an additional 3,472 shares in the last quarter. 59.18% of the stock is currently owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Company Profile (Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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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