Avadel Pharmaceuticals (NASDAQ:AVDL) PT Raised to $9.00 at Needham & Company LLC

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) had its target price boosted by Needham & Company LLC from $8.00 to $9.00 in a report released on Monday morning, The Fly reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts have also issued reports on AVDL. Jefferies Financial Group lowered Avadel Pharmaceuticals from a buy rating to a hold rating and increased their target price for the stock from $6.00 to $8.00 in a report on Wednesday, August 10th. SVB Leerink raised their price objective on Avadel Pharmaceuticals from $6.00 to $12.00 and gave the company an outperform rating in a research note on Thursday, August 11th. Finally, Craig Hallum cut their price target on Avadel Pharmaceuticals from $15.50 to $12.00 and set a buy rating on the stock in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $10.29.

Avadel Pharmaceuticals Stock Down 2.1 %

AVDL stock opened at $7.81 on Monday. The stock has a market capitalization of $466.96 million, a price-to-earnings ratio of -3.50 and a beta of 1.52. Avadel Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.73 and a quick ratio of 2.73. The business’s fifty day moving average price is $6.20 and its two-hundred day moving average price is $5.05.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning increased its holdings in shares of Avadel Pharmaceuticals by 15.2% during the second quarter. Creative Planning now owns 15,787 shares of the company’s stock valued at $39,000 after acquiring an additional 2,083 shares in the last quarter. BlackRock Inc. boosted its position in shares of Avadel Pharmaceuticals by 18.4% during the third quarter. BlackRock Inc. now owns 34,069 shares of the company’s stock valued at $171,000 after buying an additional 5,299 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Avadel Pharmaceuticals during the third quarter valued at approximately $34,000. LPL Financial LLC boosted its position in shares of Avadel Pharmaceuticals by 40.5% during the second quarter. LPL Financial LLC now owns 30,850 shares of the company’s stock valued at $75,000 after buying an additional 8,900 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Avadel Pharmaceuticals by 300.6% during the third quarter. UBS Group AG now owns 11,955 shares of the company’s stock valued at $60,000 after buying an additional 8,971 shares during the last quarter. Institutional investors own 63.01% of the company’s stock.

About Avadel Pharmaceuticals

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Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.

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