LifeSci Capital analyst David Sherman reiterated a Buy rating on Avadel Pharmaceuticals (AVDL) today and set a price target of $23.00. The company’s shares closed last Monday at $5.99.
According to TipRanks.com, Sherman is ranked #6742 out of 7050 analysts.
Avadel Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $18.20, representing a 213.8% upside. In a report released today, Oppenheimer also reiterated a Buy rating on the stock with a $19.00 price target.
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Based on Avadel Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.09 million and net profit of $30.87 million. In comparison, last year the company earned revenue of $17.55 million and had a GAAP net loss of $8.61 million.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVDL in relation to earlier this year.
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Avadel Pharmaceuticals Plc engages in the development and commercialization of pharmaceutical products. It offers Bloxiverz, Vazculep, and Akovaz. The company was founded on December 1, 2015 and is headquartered in Dublin, Ireland.
