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

Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, 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 brokerages also recently issued reports on AVDL. Laidlaw set a $2.00 price target on shares of Avadel Pharmaceuticals and gave the company a “hold” rating in a report on Monday, March 18th. LADENBURG THALM/SH SH downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, February 8th. Finally, ValuEngine downgraded shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, December 26th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Avadel Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $5.08.

NASDAQ:AVDL opened at $1.11 on Monday. The stock has a market cap of $39.98 million, a price-to-earnings ratio of -0.56 and a beta of 1.78. The company has a debt-to-equity ratio of 41.63, a current ratio of 3.25 and a quick ratio of 3.13. Avadel Pharmaceuticals has a fifty-two week low of $1.06 and a fifty-two week high of $7.97.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.06. The firm had revenue of $20.92 million for the quarter. Avadel Pharmaceuticals had a negative net margin of 92.29% and a negative return on equity of 126.79%. Equities research analysts expect that Avadel Pharmaceuticals will post -1.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedbush Securities Inc. purchased a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at about $51,000. HRT Financial LLC purchased a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $33,000. Millennium Management LLC purchased a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $189,000. Paloma Partners Management Co purchased a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $59,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of Avadel Pharmaceuticals in the fourth quarter worth approximately $253,000. 53.43% of the stock is currently owned by hedge funds and other institutional investors.

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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