Avadel Pharmaceuticals (NASDAQ:AVDL) Hits New 1-Year Low – What’s Next?

Avadel Pharmaceuticals plc (NASDAQ:AVDL)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.20 and last traded at $10.31, with a volume of 226590 shares trading hands. The stock had previously closed at $11.59.

Analysts Set New Price Targets

Several brokerages have commented on AVDL. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday, November 12th. Oppenheimer boosted their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, HC Wainwright decreased their target price on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Stock Down 11.9 %

The firm has a 50 day moving average price of $12.92 and a two-hundred day moving average price of $14.52. The company has a market cap of $983.84 million, a price-to-earnings ratio of -13.05 and a beta of 1.32.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. During the same period in the previous year, the business earned ($0.41) EPS. The firm’s revenue was up 624.6% compared to the same quarter last year. On average, equities analysts expect that Avadel Pharmaceuticals plc will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of large investors have recently modified their holdings of AVDL. FMR LLC acquired a new position in Avadel Pharmaceuticals during the third quarter worth $31,000. Amalgamated Bank acquired a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter worth about $45,000. Quarry LP bought a new position in Avadel Pharmaceuticals in the 2nd quarter valued at about $63,000. Advisors Asset Management Inc. boosted its stake in Avadel Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC purchased a new stake in shares of Avadel Pharmaceuticals in the second quarter worth approximately $146,000. 69.19% of the stock is currently owned by institutional investors.

Avadel Pharmaceuticals Company Profile

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.