Avadel Pharmaceuticals PLC (NASDAQ:AVDL) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.67.
A number of equities analysts have recently weighed in on AVDL shares. SunTrust Banks lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. BidaskClub raised Avadel Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, May 18th. Zacks Investment Research lowered Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Finally, JMP Securities lowered Avadel Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 7th.
Shares of NASDAQ:AVDL opened at $4.90 on Friday. The company has a current ratio of 3.39, a quick ratio of 3.28 and a debt-to-equity ratio of 1.44. Avadel Pharmaceuticals has a twelve month low of $4.25 and a twelve month high of $11.93. The company has a market cap of $162.50 million, a PE ratio of 15.81 and a beta of 1.80.
Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.28. Avadel Pharmaceuticals had a negative return on equity of 46.58% and a negative net margin of 2.39%. The company had revenue of $29.23 million for the quarter, compared to analyst estimates of $25.02 million. equities analysts predict that Avadel Pharmaceuticals will post -1.91 EPS for the current fiscal year.
In related news, insider James E. Flynn sold 114,034 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $5.99, for a total value of $683,063.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sandra L. Hatten sold 6,290 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $4.91, for a total value of $30,883.90. The disclosure for this sale can be found here. Insiders have sold 136,621 shares of company stock worth $793,966 over the last ninety days. 7.31% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Avadel Pharmaceuticals by 34.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock valued at $6,431,000 after buying an additional 267,270 shares during the last quarter. Brandes Investment Partners LP raised its position in Avadel Pharmaceuticals by 3.4% in the 2nd quarter. Brandes Investment Partners LP now owns 4,970,106 shares of the company’s stock valued at $30,467,000 after buying an additional 161,613 shares during the last quarter. Quantitative Systematic Strategies LLC raised its position in Avadel Pharmaceuticals by 100.3% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 25,281 shares of the company’s stock valued at $155,000 after buying an additional 12,661 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter valued at $478,000. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter valued at $144,000. 54.70% of the stock is owned by institutional investors and hedge funds.
Avadel Pharmaceuticals Company Profile
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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