Brokerages Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Target Price at $19.86

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Free Report) has received an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $19.86.

Several equities research analysts recently issued reports on the company. Needham & Company LLC lifted their price objective on Avadel Pharmaceuticals from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. UBS Group assumed coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price objective on the stock.

Check Out Our Latest Stock Analysis on Avadel Pharmaceuticals

Avadel Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ AVDL opened at $14.65 on Tuesday. Avadel Pharmaceuticals has a 1-year low of $7.60 and a 1-year high of $17.24. The stock has a fifty day simple moving average of $14.43 and a two-hundred day simple moving average of $12.77. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -6.78 and a beta of 1.57.

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, Director Mark Anthony Mccamish sold 75,000 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total value of $1,089,750.00. Following the completion of the sale, the director now directly owns 67,025 shares in the company, valued at approximately $973,873.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Avadel Pharmaceuticals news, CFO Thomas S. Mchugh bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $29,000.00. Following the transaction, the chief financial officer now owns 80,500 shares of the company’s stock, valued at $1,167,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark Anthony Mccamish sold 75,000 shares of the stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the completion of the sale, the director now directly owns 67,025 shares in the company, valued at $973,873.25. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently modified their holdings of AVDL. BNP Paribas Financial Markets boosted its stake in shares of Avadel Pharmaceuticals by 140.2% during the fourth quarter. BNP Paribas Financial Markets now owns 2,784 shares of the company’s stock valued at $39,000 after purchasing an additional 1,625 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Avadel Pharmaceuticals by 658.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock valued at $26,000 after purchasing an additional 3,294 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Avadel Pharmaceuticals by 24.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,810 shares of the company’s stock valued at $79,000 after acquiring an additional 956 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Avadel Pharmaceuticals in the third quarter valued at approximately $78,000. Finally, BNP Paribas Arbitrage SNC boosted its stake in Avadel Pharmaceuticals by 1,545.3% in the second quarter. BNP Paribas Arbitrage SNC now owns 8,506 shares of the company’s stock valued at $140,000 after acquiring an additional 7,989 shares in the last quarter. 71.23% of the stock is owned by hedge funds and other institutional investors.

About Avadel Pharmaceuticals

(Get Free Report

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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Analyst Recommendations for Avadel Pharmaceuticals (NASDAQ:AVDL)

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