Analysts Set Avadel Pharmaceuticals plc (NASDAQ:AVDL) Target Price at $19.88

Avadel Pharmaceuticals plc (NASDAQ:AVDL) has received a consensus recommendation of “Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have covered the stock in the last year is $19.88.

A number of analysts have weighed in on AVDL shares. HC Wainwright restated a “buy” rating and issued a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Avadel Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating and a $12.00 price target on the stock. Oppenheimer lifted their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC dropped their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, January 9th. Finally, Piper Sandler dropped their target price on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, January 10th.

Avadel Pharmaceuticals Price Performance

Shares of Avadel Pharmaceuticals stock opened at $8.41 on Friday. Avadel Pharmaceuticals has a fifty-two week low of $7.39 and a fifty-two week high of $19.09. The firm has a market capitalization of $810.39 million, a P/E ratio of -10.65 and a beta of 1.28. The company’s 50 day moving average price is $9.16 and its two-hundred day moving average price is $12.01.

Insider Transactions at Avadel Pharmaceuticals

In related news, CEO Gregory J. Divis bought 9,598 shares of the company’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $9.98 per share, for a total transaction of $95,788.04. Following the completion of the purchase, the chief executive officer now directly owns 9,598 shares in the company, valued at $95,788.04. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Linda Palczuk purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were acquired at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the purchase, the director now directly owns 67,900 shares in the company, valued at $538,447. This represents a 7.95 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 55,579 shares of company stock valued at $526,363 over the last three months. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Avadel Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Avadel Pharmaceuticals during the 3rd quarter valued at $164,000. Creative Planning increased its position in Avadel Pharmaceuticals by 8.2% during the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock valued at $162,000 after purchasing an additional 938 shares during the period. Claro Advisors LLC increased its position in Avadel Pharmaceuticals by 379.2% during the 3rd quarter. Claro Advisors LLC now owns 49,080 shares of the company’s stock valued at $644,000 after purchasing an additional 38,837 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Avadel Pharmaceuticals by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,516 shares of the company’s stock valued at $243,000 after purchasing an additional 7,224 shares during the period. Finally, Diversify Wealth Management LLC grew its position in shares of Avadel Pharmaceuticals by 8.3% in the 3rd quarter. Diversify Wealth Management LLC now owns 31,637 shares of the company’s stock worth $418,000 after buying an additional 2,432 shares during the period. 69.19% of the stock is currently owned by hedge funds and other 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.