Avadel Pharmaceuticals (NASDAQ:AVDL) PT Raised to $9.00

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) had its price objective boosted by analysts at Needham & Company LLC from $8.00 to $9.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 12.78% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. SVB Leerink upped their price target on shares of Avadel Pharmaceuticals from $6.00 to $12.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Craig Hallum reduced their price objective on shares of Avadel Pharmaceuticals from $15.50 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Finally, Jefferies Financial Group lowered shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $6.00 to $8.00 in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.29.

Avadel Pharmaceuticals Price Performance

Shares of AVDL opened at $7.98 on Monday. The company has a 50 day moving average price of $6.12 and a 200-day moving average price of $5.01. Avadel Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $10.00. The stock has a market capitalization of $477.15 million, a PE ratio of -3.58 and a beta of 1.52. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.73 and a current ratio of 2.73.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. B. Riley Wealth Management Inc. purchased a new stake in Avadel Pharmaceuticals during the second quarter worth $32,000. Quantbot Technologies LP purchased a new stake in Avadel Pharmaceuticals during the third quarter worth $34,000. Creative Planning boosted its holdings in Avadel Pharmaceuticals by 15.2% during the second quarter. Creative Planning now owns 15,787 shares of the company’s stock worth $39,000 after buying an additional 2,083 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Avadel Pharmaceuticals during the third quarter worth $50,000. Finally, Carmichael Hill & Associates Inc. boosted its holdings in Avadel Pharmaceuticals by 133.3% during the second quarter. Carmichael Hill & Associates Inc. now owns 21,000 shares of the company’s stock worth $51,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

Avadel Pharmaceuticals Company Profile

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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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