UBS Group Begins Coverage on Avadel Pharmaceuticals (NASDAQ:AVDL)

Stock analysts at UBS Group initiated coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. UBS Group’s target price indicates a potential upside of 44.33% from the stock’s previous close.

Separately, Needham & Company LLC upped their price target on shares of Avadel Pharmaceuticals from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $19.86.

Read Our Latest Report on AVDL

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ AVDL opened at $14.55 on Tuesday. Avadel Pharmaceuticals has a 1 year low of $7.25 and a 1 year high of $17.24. The stock’s 50-day simple moving average is $14.15 and its 200-day simple moving average is $12.74. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -6.74 and a beta of 1.57.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $5.12 million. During the same period in the previous year, the business posted ($0.33) EPS. The firm’s quarterly revenue was up 3400.0% compared to the same quarter last year. As a group, research analysts predict that Avadel Pharmaceuticals will post -1.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark Anthony Mccamish sold 75,000 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the completion of the transaction, the director now directly owns 67,025 shares in the company, valued at approximately $973,873.25. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Mark Anthony Mccamish sold 75,000 shares of Avadel Pharmaceuticals stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $14.53, for a total value of $1,089,750.00. Following the sale, the director now directly owns 67,025 shares in the company, valued at approximately $973,873.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas S. Mchugh bought 2,000 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, January 16th. The shares were purchased at an average cost of $14.50 per share, with a total value of $29,000.00. Following the completion of the purchase, the chief financial officer now directly owns 80,500 shares in the company, valued at $1,167,250. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Institutional Trading of Avadel Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its position in Avadel Pharmaceuticals by 658.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock worth $26,000 after acquiring an additional 3,294 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Avadel Pharmaceuticals by 24.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,810 shares of the company’s stock worth $79,000 after purchasing an additional 956 shares during the period. Quantbot Technologies LP acquired a new stake in Avadel Pharmaceuticals in the third quarter worth about $78,000. BNP Paribas Arbitrage SNC grew its position in Avadel Pharmaceuticals by 1,545.3% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 8,506 shares of the company’s stock valued at $140,000 after buying an additional 7,989 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Avadel Pharmaceuticals by 349.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,327 shares of the company’s stock valued at $146,000 after buying an additional 8,029 shares during the period. 71.23% of the stock is currently owned by institutional investors and hedge funds.

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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