Needham & Company LLC Lowers Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target to $15.00

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price target trimmed by Needham & Company LLC from $16.00 to $15.00 in a research report report published on Tuesday, Price Targets.com reports. The brokerage currently has a buy rating on the stock.

Separately, Zacks Investment Research lowered Avadel Pharmaceuticals from a hold rating to a sell rating in a research report on Monday, January 10th.

Shares of NASDAQ:AVDL opened at $6.46 on Tuesday. The business’s 50-day moving average is $8.53 and its 200 day moving average is $8.37. Avadel Pharmaceuticals has a 1 year low of $6.11 and a 1 year high of $11.59. The firm has a market capitalization of $378.69 million, a P/E ratio of -5.72 and a beta of 1.08. The company has a debt-to-equity ratio of 1.44, a current ratio of 11.70 and a quick ratio of 11.70.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, November 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.38). During the same period last year, the business earned ($0.20) EPS. On average, analysts expect that Avadel Pharmaceuticals will post -1.37 EPS for the current year.

A number of institutional investors have recently bought and sold shares of AVDL. ProShare Advisors LLC purchased a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at about $71,000. Envestnet Asset Management Inc. purchased a new stake in Avadel Pharmaceuticals during the 2nd quarter valued at about $90,000. Jump Financial LLC purchased a new stake in shares of Avadel Pharmaceuticals in the second quarter worth about $92,000. Valeo Financial Advisors LLC purchased a new stake in shares of Avadel Pharmaceuticals in the third quarter worth about $98,000. Finally, Cetera Advisor Networks LLC purchased a new stake in shares of Avadel Pharmaceuticals in the third quarter worth about $103,000. Institutional investors and hedge funds own 55.58% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals Plc engages in the development and commercialization of pharmaceutical products. Its products include Bloxiverz, Vazculep, Nouress, and Akovaz. It focuses on approval of FT218, a formulation of sodium oxybate designed to treat excessive daytime sleepiness and cataplexy in adults with narcolepsy.

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