Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

A number of other research firms have also weighed in on AVDL. Langenberg & Company reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $27.00) on shares of Avadel Pharmaceuticals PLC. in a research note on Thursday, September 7th. Ladenburg Thalmann Financial Services upped their price objective on Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a research note on Thursday, September 7th. Finally, Roth Capital set a $15.00 price objective on Avadel Pharmaceuticals PLC. and gave the stock a “buy” rating in a research note on Wednesday, August 9th.

Avadel Pharmaceuticals PLC. (NASDAQ AVDL) traded up $0.04 during midday trading on Tuesday, hitting $9.23. The stock had a trading volume of 142,900 shares, compared to its average volume of 165,599. The company has a market capitalization of $368.37, a price-to-earnings ratio of 17.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 1.53. Avadel Pharmaceuticals PLC. has a 1 year low of $8.14 and a 1 year high of $12.30.

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The firm had revenue of $39.68 million during the quarter, compared to analyst estimates of $38.22 million. Avadel Pharmaceuticals PLC. had a return on equity of 33.92% and a net margin of 44.47%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. sell-side analysts forecast that Avadel Pharmaceuticals PLC. will post 0.3 earnings per share for the current fiscal year.

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In other news, CEO Michael S. Anderson bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were bought at an average cost of $9.80 per share, for a total transaction of $39,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter J. Thornton bought 5,155 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was purchased at an average price of $9.74 per share, for a total transaction of $50,209.70. Following the completion of the transaction, the director now directly owns 5,155 shares of the company’s stock, valued at approximately $50,209.70. The disclosure for this purchase can be found here. Insiders purchased 46,855 shares of company stock worth $445,058 over the last quarter. 5.07% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of AVDL. Acadian Asset Management LLC lifted its position in shares of Avadel Pharmaceuticals PLC. by 9.7% in the second quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock worth $18,444,000 after buying an additional 147,907 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Avadel Pharmaceuticals PLC. by 27.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 42,090 shares of the company’s stock worth $464,000 after buying an additional 9,175 shares in the last quarter. Sei Investments Co. lifted its position in shares of Avadel Pharmaceuticals PLC. by 29.5% in the second quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock worth $140,000 after buying an additional 2,900 shares in the last quarter. Trexquant Investment LP lifted its position in shares of Avadel Pharmaceuticals PLC. by 30.7% in the second quarter. Trexquant Investment LP now owns 30,500 shares of the company’s stock worth $336,000 after buying an additional 7,169 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Avadel Pharmaceuticals PLC. in the second quarter worth about $411,000. Institutional investors own 69.56% of the company’s stock.

Avadel Pharmaceuticals PLC. Company Profile

Avadel Pharmaceuticals plc (NASDAQ: AVDL) is a specialty pharmaceutical company that seeks to commercialize differentiated pharmaceutical products that are safe, effective and easy to take through formulation development, by utilizing its proprietary drug delivery technology and in-licensing / acquiring new products; ultimately, helping patients adhere to their prescribed medical treatment and see better results.

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