Avadel Pharmaceuticals (NASDAQ:AVDL) Stock Rating Upgraded by Zacks Investment Research

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage currently has a $5.50 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.22% from the stock’s previous close.

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. “

Several other research firms also recently weighed in on AVDL. Laidlaw lifted their target price on shares of Avadel Pharmaceuticals from $3.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. ValuEngine downgraded shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th.

Shares of NASDAQ AVDL traded up $0.03 during midday trading on Friday, hitting $4.99. The company’s stock had a trading volume of 350,500 shares, compared to its average volume of 398,346. The firm’s fifty day moving average price is $4.19 and its 200-day moving average price is $2.69. Avadel Pharmaceuticals has a 1-year low of $1.03 and a 1-year high of $5.75. The firm has a market cap of $185.75 million, a P/E ratio of -2.51 and a beta of 1.68.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. The business had revenue of $14.23 million for the quarter. Avadel Pharmaceuticals had a negative net margin of 136.46% and a negative return on equity of 608.04%. On average, equities research analysts forecast that Avadel Pharmaceuticals will post -1.06 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in AVDL. CIBC Private Wealth Group LLC purchased a new position in shares of Avadel Pharmaceuticals in the second quarter worth approximately $434,000. Renaissance Technologies LLC grew its position in Avadel Pharmaceuticals by 21.9% during the second quarter. Renaissance Technologies LLC now owns 802,606 shares of the company’s stock valued at $2,320,000 after purchasing an additional 144,270 shares in the last quarter. Brown Capital Management LLC grew its position in Avadel Pharmaceuticals by 8.9% during the second quarter. Brown Capital Management LLC now owns 1,524,428 shares of the company’s stock valued at $4,406,000 after purchasing an additional 124,421 shares in the last quarter. Susquehanna International Group LLP grew its position in Avadel Pharmaceuticals by 263.6% during the second quarter. Susquehanna International Group LLP now owns 98,389 shares of the company’s stock valued at $284,000 after purchasing an additional 71,328 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Avadel Pharmaceuticals by 383.0% during the second quarter. JPMorgan Chase & Co. now owns 22,700 shares of the company’s stock valued at $64,000 after purchasing an additional 18,000 shares in the last quarter. 51.57% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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