Avadel Pharmaceuticals (NASDAQ:AVDL) Raised to Buy at ValuEngine

Avadel Pharmaceuticals (NASDAQ:AVDL) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, May 20th. LADENBURG THALM/SH SH upgraded shares of Avadel Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Avadel Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $3.75.

Shares of AVDL traded down $0.05 during mid-day trading on Thursday, hitting $2.19. 217,978 shares of the company traded hands, compared to its average volume of 155,888. Avadel Pharmaceuticals has a one year low of $1.03 and a one year high of $6.43. The company has a debt-to-equity ratio of 41.63, a current ratio of 3.27 and a quick ratio of 3.13. The business has a 50-day simple moving average of $2.50.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.05. Avadel Pharmaceuticals had a negative net margin of 111.19% and a negative return on equity of 215.96%. The business had revenue of $16.44 million for the quarter. As a group, analysts anticipate that Avadel Pharmaceuticals will post -1.12 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. HRT Financial LLC acquired a new stake in Avadel Pharmaceuticals in the fourth quarter worth $33,000. Wedbush Securities Inc. acquired a new stake in Avadel Pharmaceuticals in the first quarter worth $51,000. Millennium Management LLC acquired a new stake in Avadel Pharmaceuticals in the fourth quarter worth $189,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Avadel Pharmaceuticals in the second quarter worth $434,000. Institutional investors and hedge funds own 52.80% 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.

Recommended Story: Insider Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Avadel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avadel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.