BidaskClub Upgrades Avadel Pharmaceuticals (AVDL) to Hold

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday, April 4th.

A number of other research analysts also recently commented on the company. ValuEngine raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. TheStreet downgraded Avadel Pharmaceuticals from a “c” rating to a “d+” rating in a report on Thursday, March 8th. Ladenburg Thalmann cut their price target on Avadel Pharmaceuticals to $24.00 and set a “buy” rating on the stock in a report on Friday, March 9th. Zacks Investment Research upgraded Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Finally, Roth Capital set a $14.00 target price on Avadel Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.00.

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Shares of AVDL stock traded down $0.17 during trading hours on Wednesday, reaching $7.28. The company had a trading volume of 157,087 shares, compared to its average volume of 461,016. Avadel Pharmaceuticals has a twelve month low of $6.71 and a twelve month high of $11.93. The firm has a market cap of $286.60, a P/E ratio of 23.48 and a beta of 1.55.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Thursday, March 8th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). Avadel Pharmaceuticals had a return on equity of 15.40% and a net margin of 38.64%. The firm had revenue of $34.20 million for the quarter, compared to the consensus estimate of $34.16 million. The firm’s revenue was down 20.6% on a year-over-year basis. research analysts expect that Avadel Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Avadel Pharmaceuticals announced that its board has authorized a stock repurchase program on Tuesday, March 27th that authorizes the company to buyback $7.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Avadel Pharmaceuticals in the third quarter worth $2,100,000. Perceptive Advisors LLC boosted its position in shares of Avadel Pharmaceuticals by 8.4% in the third quarter. Perceptive Advisors LLC now owns 1,549,005 shares of the company’s stock worth $16,265,000 after buying an additional 119,891 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Avadel Pharmaceuticals in the third quarter worth $205,000. Ameriprise Financial Inc. boosted its position in shares of Avadel Pharmaceuticals by 9.4% in the third quarter. Ameriprise Financial Inc. now owns 204,168 shares of the company’s stock worth $2,143,000 after buying an additional 17,551 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Avadel Pharmaceuticals in the third quarter worth $184,000. 65.76% of the stock is owned by institutional investors and hedge funds.

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About Avadel Pharmaceuticals

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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