Needham lifts Avadel Pharmaceuticals plc [AVDL] price estimate. Who else is bullish?

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Avadel Pharmaceuticals plc [NASDAQ: AVDL] traded at a high on 04/26/22, posting a 25.89 gain after which it closed the day’ session at $5.30. The company report on April 26, 2022 that Avadel Pharmaceuticals Provides Comment on Recent Trading Activity.

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Avadel Pharmaceuticals plc (Nasdaq: AVDL), a biopharmaceutical company focused on transforming medicines to transform lives, today provided a statement in response to the trading volatility and subsequent brief trading halt of its shares that occurred yesterday.

“The company is not aware of any new information, including regarding the ongoing review of the FT218 NDA, that caused yesterday’s share price movement and brief trading halt,” said Greg Divis, Chief Executive Officer of Avadel Pharmaceuticals. “We are advancing our launch preparations, and look forward to bringing this important treatment to people with narcolepsy.”.

The results of the trading session contributed to over 12746288 shares changing hands. Over the past one week, the price volatility of Avadel Pharmaceuticals plc stands at 17.96% while the volatility over the past one month is 7.66%.

The market cap for AVDL stock reached $319.06 million, with 58.62 million shares outstanding and 35.64 million shares in the current float. Compared to the average trading volume of 390.31K shares, AVDL reached a trading volume of 12746288 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Avadel Pharmaceuticals plc [AVDL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVDL shares is $17.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVDL stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Avadel Pharmaceuticals plc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 23, 2021. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on July 31, 2020, representing the official price target for Avadel Pharmaceuticals plc stock. Previously, the target price had yet another raise to $17, while SVB Leerink analysts kept a Outperform rating on AVDL stock.

The Average True Range (ATR) for Avadel Pharmaceuticals plc is set at 0.60 The Price to Book ratio for the last quarter was 3.98, with the Price to Cash per share for the same quarter was set at 2.61.

How has AVDL stock performed recently?

Avadel Pharmaceuticals plc [AVDL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.06. With this latest performance, AVDL shares dropped by -24.07% in over the last four-week period, additionally sinking by -35.05% over the last 6 months – not to mention a drop of -30.35% 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 36.21, with the RSI for the last a single of trading hit 35.20, and the three-weeks RSI is set at 37.90 for Avadel Pharmaceuticals plc [AVDL]. The present Moving Average for the last 50 days of trading for this stock 7.00, while it was recorded at 5.87 for the last single week of trading, and 7.88 for the last 200 days.

Avadel Pharmaceuticals plc [AVDL]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -64.30, with Return on Assets sitting at -27.67.

Avadel Pharmaceuticals plc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 9.20.

Earnings analysis for Avadel Pharmaceuticals plc [AVDL]

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%.

Insider trade positions for Avadel Pharmaceuticals plc [AVDL]

There are presently around $151 million, or 60.20% of AVDL stock, in the hands of institutional investors. The top three institutional holders of AVDL stocks are: RTW INVESTMENTS, LP with ownership of 5,741,939, which is approximately 0% of the company’s market cap and around 1.07% of the total institutional ownership; COWEN AND COMPANY, LLC, holding 3,732,778 shares of the stock with an approximate value of $15.71 million in AVDL stocks shares; and VIVO CAPITAL, LLC, currently with $12.37 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 May and at the time of the May reporting period, where 41 institutional holders increased their position in Avadel Pharmaceuticals plc [NASDAQ:AVDL] by around 6,360,944 shares. Additionally, 36 investors decreased positions by around 2,623,312 shares, while 24 investors held positions by with 26,853,364 shares. The mentioned changes placed institutional holdings at 35,837,620 shares, according to the latest SEC report filing. AVDL stock had 17 new institutional investments in for a total of 3,521,798 shares, while 14 institutional investors sold positions of 372,709 shares during the same period.