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Zacks Investment Research lowered shares of Avadel Pharmaceuticals (NASDAQ:AVDL) from a hold rating to a sell rating in a report released on Monday, Zacks.com reports.

According to Zacks, “Avadel Pharmaceuticals plc is a specialty pharmaceutical company. Its product pipeline consists of hospital and paediatrics. Hospital segment provides Bloxiverz(R), Vazculep(R) and Akovaz(TM). Paediatrics segment provides Karbinal (TM) ER, AcipHex(R) Sprinkle and Flexichamber(TM). The company operates primarily in Ireland, USA and France. Avadel Pharmaceuticals plc, formerly known as Flamel Technologies SA, is headquartered in Lyon, France. “

Separately, Needham & Company LLC reiterated a buy rating and set a $16.00 target price on shares of Avadel Pharmaceuticals in a research report on Monday, October 18th.

Shares of NASDAQ:AVDL opened at $6.92 on Monday. The company has a 50 day moving average of $8.84 and a 200 day moving average of $8.40. The stock has a market cap of $405.65 million, a P/E ratio of -6.12 and a beta of 1.08. Avadel Pharmaceuticals has a 12 month low of $6.35 and a 12 month high of $11.59. The company has a current ratio of 11.70, a quick ratio of 11.70 and a debt-to-equity ratio of 1.44.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, November 8th. The company reported ($0.38) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.38). During the same quarter in the prior year, the business earned ($0.20) EPS. On average, equities analysts forecast that Avadel Pharmaceuticals will post -1.37 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in AVDL. Cetera Advisor Networks LLC bought a new position in Avadel Pharmaceuticals in the 3rd quarter worth about $103,000. Janus Henderson Group PLC lifted its stake in shares of Avadel Pharmaceuticals by 9.2% in the 3rd quarter. Janus Henderson Group PLC now owns 811,257 shares of the company’s stock worth $7,938,000 after purchasing an additional 68,485 shares during the period. BioImpact Capital LLC purchased a new stake in Avadel Pharmaceuticals in the 3rd quarter worth approximately $3,920,000. Cubist Systematic Strategies LLC purchased a new stake in Avadel Pharmaceuticals in the 3rd quarter worth approximately $176,000. Finally, Morgan Stanley increased its holdings in Avadel Pharmaceuticals by 12.7% in the 3rd quarter. Morgan Stanley now owns 424,220 shares of the company’s stock worth $4,157,000 after acquiring an additional 47,955 shares in the last quarter. 55.63% of the stock is currently owned by hedge funds and other institutional investors.

About Avadel Pharmaceuticals

Avadel Pharmaceuticals Plc engages in the development and commercialization of pharmaceutical products. Its products include Bloxiverz, Vazculep, Nouress, and Akovaz. It focuses on approval of FT218, a formulation of sodium oxybate designed to treat excessive daytime sleepiness and cataplexy in adults with narcolepsy.

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