Avadel Pharmaceuticals (NASDAQ:AVDL) Cut to “Neutral” at HC Wainwright

HC Wainwright downgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat Ratings reports. HC Wainwright currently has $20.00 price objective on the stock.

A number of other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Avadel Pharmaceuticals in a research note on Friday, August 8th. Wells Fargo & Company raised shares of Avadel Pharmaceuticals to a “hold” rating in a report on Wednesday, September 3rd. Lifesci Capital raised Avadel Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Avadel Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Needham & Company LLC downgraded Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Avadel Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $18.72.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL opened at $18.56 on Thursday. The firm’s 50-day moving average is $15.31 and its two-hundred day moving average is $11.61. Avadel Pharmaceuticals has a 12 month low of $6.38 and a 12 month high of $18.65. The stock has a market capitalization of $1.80 billion, a P/E ratio of -618.67 and a beta of 1.46.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $68.13 million during the quarter, compared to the consensus estimate of $60.28 million. Avadel Pharmaceuticals had a negative return on equity of 3.73% and a negative net margin of 1.32%.The business’s revenue for the quarter was up 64.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) earnings per share. Avadel Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Avadel Pharmaceuticals will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Brandes Investment Partners LP increased its stake in shares of Avadel Pharmaceuticals by 14.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after acquiring an additional 820,467 shares during the last quarter. Two Seas Capital LP lifted its stake in Avadel Pharmaceuticals by 24.4% in the 2nd quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock valued at $54,472,000 after acquiring an additional 1,208,625 shares in the last quarter. Wealth Effects LLC increased its position in shares of Avadel Pharmaceuticals by 1.1% during the 1st quarter. Wealth Effects LLC now owns 2,369,122 shares of the company’s stock worth $18,550,000 after purchasing an additional 24,992 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Avadel Pharmaceuticals by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock worth $19,198,000 after acquiring an additional 979,422 shares during the period. Finally, Kennedy Capital Management LLC boosted its stake in shares of Avadel Pharmaceuticals by 30.1% during the 2nd quarter. Kennedy Capital Management LLC now owns 981,271 shares of the company’s stock worth $8,684,000 after acquiring an additional 227,228 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.