In a recent transaction, Linda Palczuk, a director at Avadel Pharmaceuticals PLC (NASDAQ:AVDL), purchased 3,000 ordinary shares of the company. The shares were acquired at a weighted average price of approximately $10.1892 per share, resulting in a total transaction value of $30,567. Following this purchase, Palczuk now holds 66,400 shares in the company. The shares were bought in multiple transactions at prices ranging from $10.18 to $10.1899.This insider purchase comes as the stock trades near $10.32, having declined over 41% year-to-date. According to InvestingPro data, the company maintains impressive gross profit margins of 92% and analysts have set price targets ranging from $20 to $27, suggesting potential upside. For deeper insights into AVDL's valuation and comprehensive analysis, including 10 additional ProTips, subscribers can access the full Pro Research Report on InvestingPro.
In other recent news, Avadel Pharmaceuticals and Alkermes (NASDAQ:ALKS) have both been the subjects of analyst attention. Piper Sandler maintained its Overweight rating on Alkermes, influenced by the potential of ALKS-2680, a drug in development for sleep/wake disorders. The firm believes that ALKS-2680 could provide a competitive edge over other treatments and that the first drug of its type to reach the market could gain a significant commercial advantage.
On the other hand, Avadel Pharmaceuticals has had a mixed reception with H.C. Wainwright reaffirming a Buy rating but reducing the stock price target from $27.00 to $25.00. This adjustment followed Avadel's third-quarter results, where the firm believes the stock is undervaluing their narcolepsy medication, LUMRYZ, even with less than 25% projected peak market share.
Avadel Pharmaceuticals reported strong third-quarter results with $50 million in net revenue from LUMRYZ and a positive adjusted EBITDA of $6.1 million. However, the company's Chief Commercial Officer, Richard Kim, announced his resignation effective December 31, creating a potential challenge for the company.
These are recent developments that investors should be aware of as they evaluate their investments in these companies.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.