Avadel Pharmaceuticals (NASDAQ:AVDL) Given New $20.00 Price Target at Wells Fargo & Company

by · The Markets Daily

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) had its target price upped by equities research analysts at Wells Fargo & Company from $16.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.01% from the company’s current price.

A number of other analysts also recently issued reports on AVDL. Wall Street Zen downgraded shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Lifesci Capital lowered shares of Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Leerink Partnrs downgraded Avadel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 23rd. HC Wainwright downgraded Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Thursday, October 23rd. Finally, UBS Group cut shares of Avadel Pharmaceuticals to a “neutral” rating in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $17.81.

Get Our Latest Report on Avadel Pharmaceuticals

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock traded down $0.02 during mid-day trading on Friday, hitting $18.69. The company’s stock had a trading volume of 1,356,811 shares, compared to its average volume of 1,674,534. The company has a market cap of $1.81 billion, a PE ratio of -623.00 and a beta of 1.47. Avadel Pharmaceuticals has a 52 week low of $6.38 and a 52 week high of $19.06. The company’s fifty day simple moving average is $16.08 and its 200-day simple moving average is $12.31.

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.04). The company had revenue of $77.47 million for the quarter, compared to analyst estimates of $78.05 million. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.73%. The firm’s revenue was up 55.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. On average, equities analysts anticipate that Avadel Pharmaceuticals will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AVDL. Two Seas Capital LP increased its stake in Avadel Pharmaceuticals by 24.4% in the second quarter. Two Seas Capital LP now owns 6,155,074 shares of the company’s stock worth $54,472,000 after purchasing an additional 1,208,625 shares during the period. Geode Capital Management LLC boosted its stake in shares of Avadel Pharmaceuticals by 82.3% during the second quarter. Geode Capital Management LLC now owns 2,169,018 shares of the company’s stock valued at $19,198,000 after purchasing an additional 979,422 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Avadel Pharmaceuticals by 14.5% in the 2nd quarter. Brandes Investment Partners LP now owns 6,487,642 shares of the company’s stock valued at $57,416,000 after acquiring an additional 820,467 shares during the period. Invesco Ltd. grew its stake in Avadel Pharmaceuticals by 1,407.6% in the second quarter. Invesco Ltd. now owns 748,875 shares of the company’s stock valued at $6,628,000 after purchasing an additional 699,201 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Avadel Pharmaceuticals in the first quarter valued at approximately $4,055,000. 69.19% of the stock is owned by hedge funds and other institutional investors.

About Avadel Pharmaceuticals

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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.

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