LADENBURG THALM/SH SH Downgrades Avadel Pharmaceuticals (AVDL) to Neutral

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LADENBURG THALM/SH SH lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat reports.

AVDL has been the topic of several other reports. Zacks Investment Research downgraded shares of Avadel Pharmaceuticals from a buy rating to a sell rating in a research note on Thursday, November 8th. ValuEngine raised shares of Avadel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, January 2nd. Finally, Laidlaw downgraded shares of Avadel Pharmaceuticals from a buy rating to a hold rating and set a $6.00 price target on the stock. in a research note on Tuesday, November 6th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company currently has a consensus rating of Hold and an average target price of $6.42.

NASDAQ:AVDL opened at $2.26 on Friday. The company has a current ratio of 3.15, a quick ratio of 3.02 and a debt-to-equity ratio of 1.74. Avadel Pharmaceuticals has a twelve month low of $1.69 and a twelve month high of $9.98.

Institutional investors have recently added to or reduced their stakes in the stock. Brandes Investment Partners LP increased its position in Avadel Pharmaceuticals by 27.5% during the third quarter. Brandes Investment Partners LP now owns 6,335,548 shares of the company’s stock worth $27,813,000 after purchasing an additional 1,365,442 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Avadel Pharmaceuticals by 14.8% during the third quarter. Janney Montgomery Scott LLC now owns 227,573 shares of the company’s stock worth $999,000 after purchasing an additional 29,350 shares during the last quarter. Fosun International Ltd acquired a new stake in Avadel Pharmaceuticals during the fourth quarter worth about $826,000. Alps Advisors Inc. increased its position in Avadel Pharmaceuticals by 21.9% during the third quarter. Alps Advisors Inc. now owns 70,933 shares of the company’s stock worth $311,000 after purchasing an additional 12,762 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Avadel Pharmaceuticals by 34.2% during the second quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock worth $6,431,000 after purchasing an additional 267,270 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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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