Analysts Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Target Price at $22.57

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.57.

Several analysts have issued reports on AVDL shares. HC Wainwright upped their target price on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Piper Sandler upped their price objective on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Oppenheimer lifted their target price on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Craig Hallum increased their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Needham & Company LLC lifted their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th.

Get Our Latest Stock Analysis on Avadel Pharmaceuticals

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, CFO Thomas S. Mchugh bought 2,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were bought at an average price of $14.50 per share, with a total value of $29,000.00. Following the completion of the transaction, the chief financial officer now directly owns 80,500 shares in the company, valued at $1,167,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new stake in shares of Avadel Pharmaceuticals during the fourth quarter worth about $28,000. Clear Street Markets LLC purchased a new stake in Avadel Pharmaceuticals during the 4th quarter worth approximately $34,000. BNP Paribas Financial Markets lifted its holdings in Avadel Pharmaceuticals by 140.2% during 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 position in Avadel Pharmaceuticals by 658.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock valued at $26,000 after buying an additional 3,294 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in shares of 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 acquiring an additional 956 shares in the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Trading Up 0.3 %

NASDAQ:AVDL opened at $16.89 on Wednesday. The company has a market cap of $1.53 billion, a P/E ratio of -8.28 and a beta of 1.56. Avadel Pharmaceuticals has a twelve month low of $8.00 and a twelve month high of $17.47. The company’s 50-day moving average price is $14.88 and its 200-day moving average price is $13.15.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last released its earnings results on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business had revenue of $19.45 million for the quarter, compared to analyst estimates of $17.41 million. During the same quarter last year, the business earned ($0.44) earnings per share. On average, analysts expect that Avadel Pharmaceuticals will post -0.46 earnings per share for the current year.

About Avadel Pharmaceuticals

(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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