Avadel Pharmaceuticals (NASDAQ:AVDL) Rating Increased to Buy at Laidlaw
Laidlaw upgraded shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a buy rating in a report issued on Monday morning, The Fly reports. They currently have $3.00 price objective on the stock.
Several other equities analysts have also recently commented on AVDL. LADENBURG THALM/SH SH raised shares of Avadel Pharmaceuticals from a neutral rating to a buy rating and set a $6.00 target price on the stock in a research report on Friday, June 14th. ValuEngine raised shares of Avadel Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Avadel Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, May 20th.
AVDL stock opened at $1.98 on Monday. The company has a current ratio of 2.89, a quick ratio of 3.13 and a debt-to-equity ratio of 41.63. Avadel Pharmaceuticals has a 52-week low of $1.03 and a 52-week high of $5.25. The business has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $1.93.
Institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $51,000. JPMorgan Chase & Co. lifted its position in shares of Avadel Pharmaceuticals by 383.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 22,700 shares of the company’s stock worth $64,000 after buying an additional 18,000 shares in the last quarter. Millennium Management LLC bought a new position in shares of Avadel Pharmaceuticals during the 4th quarter worth approximately $189,000. CIBC Private Wealth Group LLC bought a new position in shares of Avadel Pharmaceuticals during the 2nd quarter worth approximately $434,000. Finally, Morgan Stanley lifted its position in shares of Avadel Pharmaceuticals by 0.7% during the 2nd quarter. Morgan Stanley now owns 717,901 shares of the company’s stock worth $2,075,000 after buying an additional 5,243 shares in the last quarter. 52.74% of the stock is currently owned by hedge funds and other institutional investors.
About Avadel Pharmaceuticals
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.
Featured Article: Bid-Ask Spread
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.