Zacks Investment Research upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a buy rating in a report released on Wednesday morning. The firm currently has $3.25 price target on the stock.
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 analysts also recently commented on the company. ValuEngine raised Avadel Pharmaceuticals from a sell rating to a hold rating in a report on Friday, August 10th. SunTrust Banks downgraded Avadel Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, August 7th. Laidlaw downgraded Avadel Pharmaceuticals from a buy rating to a hold rating and set a $6.00 target price on the stock. in a report on Tuesday, November 6th. JMP Securities downgraded Avadel Pharmaceuticals from an outperform rating to a market perform rating in a report on Tuesday, August 7th. Finally, LADENBURG THALM/SH SH set a $10.00 target price on Avadel Pharmaceuticals and gave the stock a buy rating in a report on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $8.31.
AVDL stock opened at $3.59 on Wednesday. Avadel Pharmaceuticals has a 1-year low of $2.80 and a 1-year high of $11.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.28 and a current ratio of 3.15.
Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings data on Monday, November 5th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.10. The company had revenue of $19.83 million for the quarter, compared to analyst estimates of $20.11 million. Avadel Pharmaceuticals had a negative return on equity of 86.08% and a negative net margin of 34.91%. As a group, equities research analysts predict that Avadel Pharmaceuticals will post -2 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth approximately $144,000. Quantitative Systematic Strategies LLC lifted its holdings in Avadel Pharmaceuticals by 100.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 25,281 shares of the company’s stock worth $155,000 after buying an additional 12,661 shares in the last quarter. Alps Advisors Inc. lifted its holdings in Avadel Pharmaceuticals by 21.9% during the 3rd quarter. Alps Advisors Inc. now owns 70,933 shares of the company’s stock worth $311,000 after buying an additional 12,762 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Avadel Pharmaceuticals during the 2nd quarter worth $478,000. Finally, California Public Employees Retirement System lifted its holdings in Avadel Pharmaceuticals by 10.8% during the 1st quarter. California Public Employees Retirement System now owns 93,638 shares of the company’s stock worth $683,000 after buying an additional 9,138 shares in the last quarter. 54.53% of the stock is currently owned by institutional investors and hedge funds.
About Avadel Pharmaceuticals
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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