Avadel Pharmaceuticals plc [NASDAQ: AVDL] surged by $1.43 during the normal trading session on Friday and reaching a high of $2.67 during the day while it closed the day at $2.50. The company report on May 19, 2022 that Avadel to Present Clinical Data for FT218 at SLEEP 2022.
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Avadel Pharmaceuticals plc (Nasdaq: AVDL), a biopharmaceutical company focused on transforming medicines to transform lives, today announced the presentation of clinical data for FT218 in nine posters at the 36th Annual Meeting of the Associated Professional Sleep Societies (APSS), the joint meeting of the American Academy of Sleep Medicine and the Sleep Research Society being held from June 4-8, 2022 in Charlotte, NC. FT218 is the Company’s lead drug candidate, an investigational formulation of sodium oxybate designed to be taken once at bedtime for the treatment of excessive daytime sleepiness (EDS) or cataplexy in adults with narcolepsy.
The presentations will highlight new interim data related to dosing and titration from the ongoing RESTORE open-label extension/switch study of FT218. Encore posters featuring updated results from patient preference and nocturnal adverse event questionnaires from the RESTORE study, post hoc analyses from the completed pivotal Phase 3 REST-ON clinical trial of FT218 and results from a discrete choice experiment designed to characterize and quantify drivers of preferences for attributes associated with oxybate treatments for narcolepsy will also be presented. Posters will be on display during a reception each evening June 5-7, 5:15-7:15 p.m. EDT in the poster hall, and all abstracts have been published in an online supplement in the journal Sleep.
Avadel Pharmaceuticals plc stock has also loss -34.90% of its value over the past 7 days. However, AVDL stock has declined by -68.98% in the 3 months of the year. Over the past six months meanwhile, it has lost -73.99% and lost -69.06% year-on date.
The market cap for AVDL stock reached $63.20 million, with 58.82 million shares outstanding and 35.64 million shares in the current float. Compared to the average trading volume of 899.96K shares, AVDL reached a trading volume of 161595412 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $9.50 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.
Stifel have made an estimate for Avadel Pharmaceuticals plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 26, 2022. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on September 23, 2021, representing the official price target for Avadel Pharmaceuticals plc stock. Previously, the target price had yet another raise to $19, while Oppenheimer analysts kept a Outperform rating on AVDL stock.
The Average True Range (ATR) for Avadel Pharmaceuticals plc is set at 0.66 The Price to Book ratio for the last quarter was 2.66, with the Price to Cash per share for the same quarter was set at 4.89.
AVDL stock trade performance evaluation
Avadel Pharmaceuticals plc [AVDL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -34.90. With this latest performance, AVDL shares dropped by -50.30% in over the last four-week period, additionally sinking by -73.99% over the last 6 months – not to mention a drop of -67.49% 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 35.38, with the RSI for the last a single of trading hit 36.81, and the three-weeks RSI is set at 35.09 for Avadel Pharmaceuticals plc [AVDL]. The present Moving Average for the last 50 days of trading for this stock 5.45, while it was recorded at 2.86 for the last single week of trading, and 7.47 for the last 200 days.
Avadel Pharmaceuticals plc [AVDL]: An insightful look at the core 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 Quick Ratio of 3.70 and a Current Ratio set at 3.70.
Earnings per share (EPS) analysis for Avadel Pharmaceuticals plc [AVDL] stock
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%.
Avadel Pharmaceuticals plc [AVDL]: Insider Ownership positions
There are presently around $91 million, or 61.40% 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 0.87% of the total institutional ownership; COWEN AND COMPANY, LLC, holding 3,732,778 shares of the stock with an approximate value of $9.33 million in AVDL stocks shares; and POLAR CAPITAL HOLDINGS PLC, currently with $8.0 million in AVDL stock with ownership of nearly 14.473% 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 34 institutional holders increased their position in Avadel Pharmaceuticals plc [NASDAQ:AVDL] by around 3,489,640 shares. Additionally, 43 investors decreased positions by around 2,906,208 shares, while 24 investors held positions by with 30,114,716 shares. The mentioned changes placed institutional holdings at 36,510,564 shares, according to the latest SEC report filing. AVDL stock had 14 new institutional investments in for a total of 1,497,592 shares, while 18 institutional investors sold positions of 2,056,040 shares during the same period.