Avadel Pharmaceuticals’ (AVDL) Buy Rating Reaffirmed at Needham & Company LLC

Avadel Pharmaceuticals (NASDAQ:AVDL)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $22.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 34.97% from the company’s current price.

Other analysts have also issued reports about the company. Oppenheimer raised their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of Avadel Pharmaceuticals in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $24.71.

Avadel Pharmaceuticals Trading Up 2.3 %

Shares of AVDL stock opened at $16.30 on Tuesday. The stock has a market cap of $1.57 billion, a P/E ratio of -13.93 and a beta of 1.47. Avadel Pharmaceuticals has a 1 year low of $10.25 and a 1 year high of $19.09. The stock has a 50 day simple moving average of $13.71 and a 200 day simple moving average of $15.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning grew its position in Avadel Pharmaceuticals by 8.2% during the 3rd quarter. Creative Planning now owns 12,381 shares of the company’s stock worth $162,000 after acquiring an additional 938 shares during the last quarter. MAI Capital Management increased its stake in shares of Avadel Pharmaceuticals by 1.0% in the third quarter. MAI Capital Management now owns 107,533 shares of the company’s stock valued at $1,410,000 after buying an additional 1,031 shares during the period. BNP Paribas Financial Markets raised its holdings in Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after buying an additional 1,685 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its position in Avadel Pharmaceuticals by 2.4% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,475 shares of the company’s stock worth $1,258,000 after buying an additional 2,100 shares during the period. Finally, Modera Wealth Management LLC grew its holdings in Avadel Pharmaceuticals by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 602,608 shares of the company’s stock worth $8,473,000 after acquiring an additional 2,159 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.