Avadel Pharmaceuticals plc [NASDAQ: AVDL] loss -6.65% or -0.51 points to close at $7.16 with a heavy trading volume of 1340656 shares. The company report on December 16, 2020 that Avadel Pharmaceuticals Announces Submission of New Drug Application for FT218 to the FDA.
Avadel Pharmaceuticals plc (Nasdaq: AVDL) announced the submission of its New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for FT218, an investigational, once-nightly formulation of sodium oxybate designed to treat excessive daytime sleepiness and cataplexy in adults with narcolepsy.
“The submission of our NDA represents a significant milestone for the Company. We look forward to working with the FDA during the NDA review process in order to get once-nightly FT218 approved and commercially available to patients with narcolepsy who suffer from excessive daytime sleepiness and cataplexy,” said Greg Divis, Chief Executive Officer of Avadel. “If approved, we believe once-nightly FT218 has the potential to provide a valuable treatment option for sodium oxybate eligible narcolepsy patients, including those who are not satisfied with the current twice-nightly treatment, which requires waking up in the middle of the night to take a second dose.”.
It opened the trading session at $7.61, the shares rose to $7.80 and dropped to $7.1401, the range by which the price of stock traded the whole day. The daily chart for AVDL points out that the company has recorded -21.75% loss over the past six months. However, it is still -79.0% lower than its most recent low trading price.
If we look at the average trading volume of 563.85K shares, AVDL reached to a volume of 1340656 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Avadel Pharmaceuticals plc [AVDL]:
Oppenheimer have made an estimate for Avadel Pharmaceuticals plc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 31, 2020. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on July 21, 2020, representing the official price target for Avadel Pharmaceuticals plc stock. Previously, the target price had yet another raise to $15, while H.C. Wainwright analysts kept a Buy rating on AVDL stock.
The Average True Range (ATR) for Avadel Pharmaceuticals plc is set at 0.52, with the Price to Sales ratio for AVDL stock in the period of the last 12 months amounting to 13.41. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 3.71.
Trading performance analysis for AVDL stock
Avadel Pharmaceuticals plc [AVDL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.28. With this latest performance, AVDL shares gained by 5.76% in over the last four-week period, additionally sinking by -21.75% over the last 6 months – not to mention a rise of 13.83% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVDL stock in for the last two-week period is set at 53.24, with the RSI for the last a single of trading hit 50.41, and the three-weeks RSI is set at 54.24 for Avadel Pharmaceuticals plc [AVDL]. The present Moving Average for the last 50 days of trading for this stock 6.28, while it was recorded at 7.51 for the last single week of trading, and 7.44 for the last 200 days.
Avadel Pharmaceuticals plc [AVDL]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Avadel Pharmaceuticals plc [AVDL] shares currently have an operating margin of -28.42 and a Gross Margin at +78.15. Avadel Pharmaceuticals plc’s Net Margin is presently recorded at -56.11.
Return on Total Capital for AVDL is now -15.72, given the latest momentum, and Return on Invested Capital for the company is -31.15. Additionally, AVDL Total Debt to Total Capital is recorded at 130.59, with Total Debt to Total Assets ending up at 82.31.
Reflecting on the efficiency of the workforce at the company, Avadel Pharmaceuticals plc [AVDL] managed to generate an average of -$664,396 per employee. Receivables Turnover for the company is 4.57 with a Total Asset Turnover recorded at a value of 0.35.Avadel Pharmaceuticals plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.20 and a Current Ratio set at 12.20.
Avadel Pharmaceuticals plc [AVDL]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Avadel Pharmaceuticals plc posted -0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 70.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVDL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Avadel Pharmaceuticals plc go to 15.00%.
An analysis of insider ownership at Avadel Pharmaceuticals plc [AVDL]
There are presently around $233 million, or 56.00% of AVDL stock, in the hands of institutional investors. The top three institutional holders of AVDL stocks are: RTW INVESTMENTS, LP with ownership of 5,366,705, which is approximately 1.133% of the company’s market cap and around 0.50% of the total institutional ownership; AVORO CAPITAL ADVISORS LLC, holding 4,200,000 shares of the stock with an approximate value of $30.07 million in AVDL stocks shares; and VIVO CAPITAL, LLC, currently with $25.25 million in AVDL stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Avadel Pharmaceuticals plc stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 45 institutional holders increased their position in Avadel Pharmaceuticals plc [NASDAQ:AVDL] by around 3,368,051 shares. Additionally, 34 investors decreased positions by around 10,282,559 shares, while 15 investors held positions by with 18,868,697 shares. The mentioned changes placed institutional holdings at 32,519,307 shares, according to the latest SEC report filing. AVDL stock had 20 new institutional investments in for a total of 1,079,283 shares, while 14 institutional investors sold positions of 5,493,952 shares during the same period.