Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

A number of other research analysts have also recently issued reports on the stock. ValuEngine cut shares of Avadel Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, September 4th. LADENBURG THALM/SH SH upgraded shares of Avadel Pharmaceuticals from a neutral rating to a buy rating and set a $6.00 price target for the company in a report on Friday, June 14th. Finally, Laidlaw upgraded shares of Avadel Pharmaceuticals from a hold rating to a buy rating and set a $3.00 price target for the company in a report on Monday, August 12th.

Shares of NASDAQ AVDL opened at $3.31 on Monday. The stock has a market cap of $122.78 million, a P/E ratio of -1.66 and a beta of 1.55. The firm has a 50 day moving average price of $2.29 and a 200 day moving average price of $1.95. The company has a debt-to-equity ratio of 41.63, a quick ratio of 2.82 and a current ratio of 2.89. Avadel Pharmaceuticals has a 52-week low of $1.03 and a 52-week high of $4.83.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter. The firm had revenue of $17.55 million for the quarter. Avadel Pharmaceuticals had a negative net margin of 135.48% and a negative return on equity of 608.04%. Analysts predict that Avadel Pharmaceuticals will post -1.19 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Avadel Pharmaceuticals in the second quarter valued at approximately $434,000. Brown Capital Management LLC boosted its holdings in shares of Avadel Pharmaceuticals by 8.9% in the second quarter. Brown Capital Management LLC now owns 1,524,428 shares of the company’s stock valued at $4,406,000 after buying an additional 124,421 shares during the period. Morgan Stanley boosted its holdings in shares of Avadel Pharmaceuticals by 0.7% in the second quarter. Morgan Stanley now owns 717,901 shares of the company’s stock valued at $2,075,000 after buying an additional 5,243 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of Avadel Pharmaceuticals by 263.6% in the second quarter. Susquehanna International Group LLP now owns 98,389 shares of the company’s stock valued at $284,000 after buying an additional 71,328 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Avadel Pharmaceuticals by 21.9% in the second quarter. Renaissance Technologies LLC now owns 802,606 shares of the company’s stock valued at $2,320,000 after buying an additional 144,270 shares during the period. Institutional investors own 51.73% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a specialty pharmaceutical company in the United States, France, and Ireland. The company primarily develops FT218, which is in a Phase 3 clinical trial for the treatment of narcolepsy patients suffering from excessive daytime sleepiness (EDS) and cataplexy. It also markets three sterile injectable drugs used in the hospital setting, including Akovaz that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia; Bloxiverz, a cholinesterase inhibitor indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep, a phenylephrine hydrochloride injection indicated for the treatment of clinically important hypotension.

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