Avadel Pharmaceuticals (NASDAQ:AVDL) Hits New 52-Week Low – Should You Sell?

Avadel Pharmaceuticals plc (NASDAQ:AVDL)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $10.44 and last traded at $10.76, with a volume of 267832 shares. The stock had previously closed at $10.91.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Oppenheimer upped their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. Finally, HC Wainwright lowered their price objective on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $24.43.

Avadel Pharmaceuticals Price Performance

The company has a market cap of $1.03 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. The firm has a 50-day moving average price of $13.49 and a 200 day moving average price of $14.98.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. During the same quarter last year, the firm earned ($0.41) earnings per share. The company’s revenue was up 624.6% on a year-over-year basis. On average, equities analysts anticipate that Avadel Pharmaceuticals plc will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVDL. Janus Henderson Group PLC increased its holdings in 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 buying an additional 1,789,830 shares during the period. Braidwell LP boosted its holdings in shares of Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after purchasing an additional 490,300 shares in the last quarter. State Street Corp raised its holdings in shares of Avadel Pharmaceuticals by 42.5% during the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after buying an additional 483,787 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Avadel Pharmaceuticals in the second quarter valued at about $4,921,000. Finally, Bank of New York Mellon Corp bought a new position in Avadel Pharmaceuticals in the second quarter valued at about $4,575,000. 69.19% of the stock is 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.