Zacks Investment Research cut shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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. “

Other research analysts also recently issued reports about the company. ValuEngine downgraded Avadel Pharmaceuticals from a buy rating to a hold rating in a report on Monday, June 1st. HC Wainwright started coverage on Avadel Pharmaceuticals in a report on Tuesday. They set a buy rating and a $15.00 target price on the stock. Stifel Nicolaus started coverage on Avadel Pharmaceuticals in a report on Thursday, March 12th. They set a buy rating and a $14.00 target price on the stock. Jefferies Financial Group began coverage on Avadel Pharmaceuticals in a report on Friday, April 3rd. They set a buy rating and a $14.00 target price on the stock. Finally, Craig Hallum boosted their price objective on Avadel Pharmaceuticals from $18.00 to $13.50 in a research note on Friday, April 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $12.61.

Shares of AVDL stock opened at $7.97 on Tuesday. The firm has a market capitalization of $298.48 million, a P/E ratio of -14.23 and a beta of 1.40. Avadel Pharmaceuticals has a twelve month low of $1.82 and a twelve month high of $13.49. The company has a quick ratio of 3.94, a current ratio of 4.05 and a debt-to-equity ratio of 3.84. The stock’s fifty day simple moving average is $8.31 and its 200 day simple moving average is $8.10.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, May 11th. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.25. The company had revenue of $12.24 million for the quarter, compared to analyst estimates of $10.25 million. As a group, equities research analysts expect that Avadel Pharmaceuticals will post -0.52 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in Avadel Pharmaceuticals by 40.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,050 shares of the company’s stock worth $48,000 after purchasing an additional 1,750 shares in the last quarter. UBS Group AG grew its holdings in shares of Avadel Pharmaceuticals by 62.2% in the fourth quarter. UBS Group AG now owns 7,220 shares of the company’s stock valued at $54,000 after acquiring an additional 2,770 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Avadel Pharmaceuticals in the fourth quarter valued at approximately $66,000. Blair William & Co. IL purchased a new position in Avadel Pharmaceuticals in the first quarter valued at approximately $135,000. Finally, Chartwell Investment Partners LLC purchased a new position in Avadel Pharmaceuticals in the first quarter valued at approximately $437,000. 73.45% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Company Profile

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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