Zacks Investment Research downgraded shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) from a hold rating to a sell rating in a research note released on Monday, October 16th.
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. “
A number of other research firms have also recently commented on AVDL. Ladenburg Thalmann Financial Services boosted their price target on Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a report on Thursday, September 7th. Roth Capital set a $15.00 price target on Avadel Pharmaceuticals PLC. and gave the stock a buy rating in a report on Wednesday, August 9th. Finally, Langenberg & Company reissued a buy rating and issued a $30.00 price target (up from $27.00) on shares of Avadel Pharmaceuticals PLC. in a report on Thursday, September 7th.
Shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) traded down 0.11% during midday trading on Monday, hitting $9.45. The stock had a trading volume of 164,157 shares. The firm has a market cap of $378.79 million, a price-to-earnings ratio of 9.98 and a beta of 1.47. Avadel Pharmaceuticals PLC. has a 12 month low of $8.14 and a 12 month high of $12.30. The stock’s 50 day moving average price is $9.90 and its 200 day moving average price is $9.88.
Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.14. Avadel Pharmaceuticals PLC. had a return on equity of 29.84% and a net margin of 21.13%. The firm had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $45.17 million. The firm’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts forecast that Avadel Pharmaceuticals PLC. will post $1.16 EPS for the current fiscal year.
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In other news, Director Peter J. Thornton bought 5,155 shares of the stock in a transaction on Thursday, September 21st. The stock was acquired at an average cost of $9.74 per share, for a total transaction of $50,209.70. Following the acquisition, the director now owns 5,155 shares of the company’s stock, valued at $50,209.70. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Greg J. Divis bought 10,600 shares of the stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $9.32 per share, with a total value of $98,792.00. Following the completion of the acquisition, the insider now directly owns 10,600 shares in the company, valued at approximately $98,792. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 46,855 shares of company stock valued at $445,058. 5.07% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC purchased a new stake in shares of Avadel Pharmaceuticals PLC. in the 2nd quarter worth $24,100,000. Acadian Asset Management LLC lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 9.7% in the 2nd quarter. Acadian Asset Management LLC now owns 1,672,207 shares of the company’s stock worth $18,444,000 after buying an additional 147,907 shares during the period. OxFORD Asset Management LLP lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 62.7% in the 2nd quarter. OxFORD Asset Management LLP now owns 334,881 shares of the company’s stock worth $3,694,000 after buying an additional 129,044 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of Avadel Pharmaceuticals PLC. by 9.9% in the 2nd quarter. GSA Capital Partners LLP now owns 200,213 shares of the company’s stock worth $2,208,000 after buying an additional 18,056 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Avadel Pharmaceuticals PLC. in the 2nd quarter worth $733,000. Institutional investors and hedge funds own 69.05% of the company’s stock.
Avadel Pharmaceuticals PLC. Company Profile
Avadel Pharmaceuticals plc (NASDAQ: AVDL) is a specialty pharmaceutical company that seeks to commercialize differentiated pharmaceutical products that are safe, effective and easy to take through formulation development, by utilizing its proprietary drug delivery technology and in-licensing / acquiring new products; ultimately, helping patients adhere to their prescribed medical treatment and see better results.
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