Shares of Avadel Pharmaceuticals plc (NASDAQ:AVDL – Get Free Report) have earned an average recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $24.57.
Several equities research analysts recently weighed in on the company. Rodman & Renshaw initiated coverage on Avadel Pharmaceuticals in a research note on Wednesday, June 12th. They set a “buy” rating and a $27.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Avadel Pharmaceuticals in a research report on Wednesday, August 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Wednesday, September 4th.
Check Out Our Latest Stock Report on AVDL
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Avadel Pharmaceuticals Stock Performance
Shares of Avadel Pharmaceuticals stock opened at $13.40 on Wednesday. The business has a 50-day simple moving average of $15.51 and a 200-day simple moving average of $15.94. The company has a market cap of $1.29 billion, a PE ratio of -7.20 and a beta of 1.53. Avadel Pharmaceuticals has a one year low of $9.50 and a one year high of $19.09.
Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The firm had revenue of $41.50 million for the quarter, compared to analyst estimates of $37.47 million. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. Avadel Pharmaceuticals’s revenue for the quarter was up 2666.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.70) earnings per share. On average, sell-side analysts predict that Avadel Pharmaceuticals will post -0.5 earnings per share for the current fiscal year.
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.
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