Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) have received a consensus rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.86.
AVDL has been the topic of a number of recent research reports. Needham & Company LLC upped their price objective on shares of Avadel Pharmaceuticals from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. UBS Group assumed coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They set a “buy” rating and a $21.00 price target on the stock.
Insider Activity at Avadel Pharmaceuticals
Institutional Trading of Avadel Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of Avadel Pharmaceuticals by 140.2% in the 4th quarter. BNP Paribas Financial Markets now owns 2,784 shares of the company’s stock worth $39,000 after buying an additional 1,625 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of 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 purchasing an additional 3,294 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Avadel Pharmaceuticals by 24.8% during the 2nd 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 bought a new stake in Avadel Pharmaceuticals during the 3rd quarter valued at about $78,000. Finally, BNP Paribas Arbitrage SNC lifted its holdings in Avadel Pharmaceuticals by 1,545.3% during 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. 71.23% of the stock is currently owned by institutional investors.
Avadel Pharmaceuticals Price Performance
AVDL stock opened at $14.65 on Tuesday. The company has a market cap of $1.32 billion, a P/E ratio of -6.78 and a beta of 1.57. Avadel Pharmaceuticals has a 1 year low of $7.60 and a 1 year high of $17.24. The firm has a 50-day moving average of $14.43 and a 200 day moving average of $12.77.
About Avadel Pharmaceuticals
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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