Avadel Pharmaceuticals (NASDAQ:AVDL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday.

Other analysts have also recently issued reports about the stock. Lifesci Capital upgraded shares of Avadel Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, September 3rd. HC Wainwright lifted their target price on shares of Avadel Pharmaceuticals from $24.00 to $36.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Avadel Pharmaceuticals in a research report on Friday, August 8th. UBS Group increased their price objective on Avadel Pharmaceuticals from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Finally, Wells Fargo & Company upgraded shares of Avadel Pharmaceuticals to a “hold” rating in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $20.86.

Avadel Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ:AVDL opened at $15.27 on Friday. Avadel Pharmaceuticals has a twelve month low of $6.38 and a twelve month high of $16.66. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -509.00 and a beta of 1.58. The stock’s 50 day moving average is $13.98 and its 200-day moving average is $10.65.

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

Hedge Funds Weigh In On Avadel Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Avadel Pharmaceuticals by 164.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,304 shares of the company’s stock valued at $29,000 after purchasing an additional 2,055 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Avadel Pharmaceuticals during the second quarter valued at $65,000. Tower Research Capital LLC TRC boosted its holdings in Avadel Pharmaceuticals by 217.5% in the second quarter. Tower Research Capital LLC TRC now owns 8,795 shares of the company’s stock worth $78,000 after acquiring an additional 6,025 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals in the first quarter worth $82,000. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Avadel Pharmaceuticals during the first quarter valued at $82,000. Institutional investors own 69.19% of the company’s stock.

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.