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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has earned an average recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have covered the stock in the last year is $22.57.

Several analysts have issued reports on the stock. UBS Group initiated coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price target on the stock. HC Wainwright upped their target price on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Oppenheimer increased their target price on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Piper Sandler boosted their price target on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Craig Hallum increased their price target on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL opened at $18.09 on Friday. Avadel Pharmaceuticals has a 1 year low of $9.50 and a 1 year high of $18.85. The stock has a fifty day moving average price of $15.60 and a two-hundred day moving average price of $13.77. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -8.87 and a beta of 1.60.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly 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 firm had revenue of $19.45 million for the quarter, compared to analyst estimates of $17.41 million. During the same quarter in the previous year, the business posted ($0.44) earnings per share. On average, analysts predict that Avadel Pharmaceuticals will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVDL. Commonwealth Equity Services LLC increased its stake in Avadel Pharmaceuticals by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 79,213 shares of the company’s stock worth $816,000 after buying an additional 2,528 shares during the period. Jump Financial LLC acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at about $552,000. Quantbot Technologies LP acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at about $78,000. Oppenheimer & Co. Inc. increased its position in shares of Avadel Pharmaceuticals by 16.5% during the third quarter. Oppenheimer & Co. Inc. now owns 39,911 shares of the company’s stock worth $411,000 after acquiring an additional 5,663 shares during the last quarter. Finally, Exencial Wealth Advisors LLC acquired a new position in shares of Avadel Pharmaceuticals in the third quarter worth about $124,000. 69.19% of the stock is owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Company Profile

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.