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

Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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 also recently issued reports on AVDL. LADENBURG THALM/SH SH set a $10.00 price objective on shares of Avadel Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday. ValuEngine raised shares of Avadel Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. JMP Securities downgraded shares of Avadel Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 7th. Laidlaw downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research report on Tuesday. Finally, SunTrust Banks downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $8.31.

Shares of Avadel Pharmaceuticals stock opened at $3.59 on Thursday. The company has a current ratio of 3.15, a quick ratio of 3.28 and a debt-to-equity ratio of 1.74. The firm has a market cap of $118.01 million, a price-to-earnings ratio of 11.58 and a beta of 1.75. Avadel Pharmaceuticals has a 12-month low of $2.80 and a 12-month high of $11.93.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data on Monday, November 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.10. The business had revenue of $19.83 million for the quarter, compared to the consensus estimate of $20.11 million. Avadel Pharmaceuticals had a negative net margin of 34.91% and a negative return on equity of 86.08%. On average, analysts forecast that Avadel Pharmaceuticals will post -2 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in AVDL. California Public Employees Retirement System boosted its holdings in shares of Avadel Pharmaceuticals by 10.8% during the 1st quarter. California Public Employees Retirement System now owns 93,638 shares of the company’s stock valued at $683,000 after buying an additional 9,138 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter valued at $8,157,000. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter valued at $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Avadel Pharmaceuticals during the 2nd quarter valued at $478,000. Finally, Quantitative Systematic Strategies LLC boosted its holdings in shares of Avadel Pharmaceuticals by 100.3% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 25,281 shares of the company’s stock valued at $155,000 after buying an additional 12,661 shares in the last quarter. Hedge funds and other institutional investors own 54.53% of the company’s stock.

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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