Avadel Pharmaceuticals (NASDAQ:AVDL) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat.com reports.
A number of other equities analysts have also commented on the company. ValuEngine lowered Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, December 26th. Laidlaw lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research note on Tuesday, November 6th. Finally, Zacks Investment Research raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Avadel Pharmaceuticals has an average rating of “Hold” and an average price target of $6.42.
Get Avadel Pharmaceuticals alerts:Shares of Avadel Pharmaceuticals stock opened at $2.26 on Friday. Avadel Pharmaceuticals has a 12 month low of $1.69 and a 12 month high of $9.98. The company has a market cap of $93.64 million, a P/E ratio of 7.29 and a beta of 1.86. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.15 and a quick ratio of 3.02.
Several large investors have recently bought and sold shares of AVDL. Brandes Investment Partners LP lifted its stake in shares of Avadel Pharmaceuticals by 27.5% in the 3rd quarter. Brandes Investment Partners LP now owns 6,335,548 shares of the company’s stock valued at $27,813,000 after purchasing an additional 1,365,442 shares during the last quarter. Fosun International Ltd bought a new stake in shares of Avadel Pharmaceuticals in the 4th quarter valued at approximately $826,000. Morgan Stanley lifted its stake in shares of Avadel Pharmaceuticals by 61.2% in the 3rd quarter. Morgan Stanley now owns 777,272 shares of the company’s stock valued at $3,412,000 after purchasing an additional 295,036 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Avadel Pharmaceuticals by 34.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,049,070 shares of the company’s stock valued at $6,431,000 after purchasing an additional 267,270 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Avadel Pharmaceuticals by 14.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 227,573 shares of the company’s stock valued at $999,000 after purchasing an additional 29,350 shares during the last quarter. 52.98% of the stock is owned by institutional investors and hedge funds.
About Avadel Pharmaceuticals
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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