HC Wainwright started coverage on shares of Avadel Pharmaceuticals (NASDAQ:AVDL) in a research note published on Tuesday, 24/7 WallStreet reports. The brokerage issued a buy rating and a $15.00 target price on the stock.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Avadel Pharmaceuticals from a hold rating to a buy rating and set a $7.75 target price on the stock in a report on Tuesday, March 24th. BidaskClub lowered shares of Avadel Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, May 12th. Craig Hallum upped their target price on shares of Avadel Pharmaceuticals from $18.00 to $13.50 in a report on Friday, April 3rd. Jefferies Financial Group started coverage on shares of Avadel Pharmaceuticals in a report on Friday, April 3rd. They issued a buy rating and a $14.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Avadel Pharmaceuticals in a report on Thursday, March 12th. They issued a buy rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Avadel Pharmaceuticals has a consensus rating of Buy and a consensus price target of $12.61.

Shares of NASDAQ AVDL opened at $7.97 on Tuesday. The stock has a market cap of $298.48 million, a price-to-earnings ratio of -14.23 and a beta of 1.40. Avadel Pharmaceuticals has a 52 week low of $1.82 and a 52 week high of $13.49. The company’s 50-day moving average price is $8.31 and its 200 day moving average price is $8.10. The company has a current ratio of 4.05, a quick ratio of 3.94 and a debt-to-equity ratio of 3.84.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.25. The firm had revenue of $12.24 million during the quarter, compared to analysts’ expectations of $10.25 million. As a group, research analysts expect that Avadel Pharmaceuticals will post -0.52 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Avidity Partners Management LP purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $3,033,000. VR Adviser LLC purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $8,399,000. Vivo Capital LLC purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $28,389,000. Invesco Ltd. purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $5,820,000. Finally, Ghost Tree Capital LLC purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $2,779,000. Institutional investors and hedge funds own 73.45% of the company’s stock.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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