Brokerages Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Target Price at $19.86

by · The Cerbat Gem

Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $22.57.

A number of analysts have recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright increased their target price on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler increased their target price on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group started coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 6th. They set a “buy” rating and a $21.00 target price for the company. Finally, Oppenheimer increased their target price on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday.

Read Our Latest Stock Analysis on AVDL

Insider Transactions at Avadel Pharmaceuticals

In other news, Director Mark Anthony Mccamish sold 75,000 shares of Avadel Pharmaceuticals stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the transaction, the director now owns 67,025 shares in the company, valued at $973,873.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mark Anthony Mccamish sold 75,000 shares of Avadel Pharmaceuticals stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the transaction, the director now owns 67,025 shares in the company, valued at $973,873.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas S. Mchugh purchased 2,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were acquired at an average price of $14.50 per share, for a total transaction of $29,000.00. Following the acquisition, the chief financial officer now directly owns 80,500 shares of the company’s stock, valued at approximately $1,167,250. The disclosure for this purchase can be found here. 4.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $120,000. Modera Wealth Management LLC grew its stake in Avadel Pharmaceuticals by 0.7% in the fourth quarter. Modera Wealth Management LLC now owns 598,392 shares of the company’s stock valued at $8,449,000 after purchasing an additional 4,392 shares in the last quarter. Prelude Capital Management LLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $171,000. Baird Financial Group Inc. purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $141,000. Finally, Clear Street Markets LLC purchased a new position in Avadel Pharmaceuticals in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 71.23% of the company’s stock.

Avadel Pharmaceuticals Trading Up 2.0 %

Shares of NASDAQ:AVDL opened at $16.35 on Friday. The company has a 50 day moving average of $14.44 and a 200-day moving average of $12.84. The firm has a market cap of $1.47 billion, a P/E ratio of -8.01 and a beta of 1.56. Avadel Pharmaceuticals has a twelve month low of $8.00 and a twelve month high of $17.24.

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $19.45 million for the quarter, compared to the consensus estimate of $17.41 million. During the same period in the prior year, the company posted ($0.44) earnings per share. Equities research analysts forecast that Avadel Pharmaceuticals will post -0.46 EPS for the current year.

About Avadel Pharmaceuticals

(Get Free Report

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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