Avadel Pharmaceuticals (NASDAQ:AVDL) Price Target Lowered to $25.00 at HC Wainwright

Avadel Pharmaceuticals (NASDAQ:AVDL) had its price objective lowered by investment analysts at HC Wainwright from $27.00 to $25.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 90.11% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday. Oppenheimer lifted their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating 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 presently has a consensus rating of “Buy” and a consensus target price of $24.43.

Avadel Pharmaceuticals Stock Down 19.3 %

AVDL stock opened at $13.15 on Wednesday. The firm has a 50 day moving average of $13.67 and a 200 day moving average of $15.12. The stock has a market capitalization of $1.27 billion, a PE ratio of -11.24 and a beta of 1.47. Avadel Pharmaceuticals has a 52 week low of $10.25 and a 52 week high of $19.09.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Avadel Pharmaceuticals by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock valued at $218,182,000 after purchasing an additional 1,789,830 shares during the period. Gendell Jeffrey L lifted its stake in shares of Avadel Pharmaceuticals by 1.7% in the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock valued at $96,410,000 after purchasing an additional 92,768 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Avadel Pharmaceuticals by 1.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after purchasing an additional 21,214 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of Avadel Pharmaceuticals by 1.1% in the 1st quarter. Kennedy Capital Management LLC now owns 653,147 shares of the company’s stock valued at $11,032,000 after purchasing an additional 7,273 shares during the period. Finally, Modera Wealth Management LLC increased its holdings in Avadel Pharmaceuticals by 0.4% in 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 in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.