Needham raised the firm’s price target on Avadel Pharmaceuticals (AVDL) to $22 from $20 and keeps a Buy rating on the shares. The firm notes that the company’s Lumryz ramp metrics suggest that sales are approaching the $200M range for 2024 and also sees the jury’s decision ruling in favor of Avadel in its patent litigation with Jazz Pharmaceuticals (JAZZ) as “better than expected”. The outcome should improve Avadel’s value both as a standalone company and as an acquisition target, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on AVDL:
- Avadel Pharmaceuticals Issues Statement On Patent Litigation
- Merus added to Conviction List at Needham
- Options Volatility and Implied Earnings Moves Today, March 04, 2024
- Avadel Pharmaceuticals reports Q4 EPS (32c), consensus (29c)
- Avadel Pharmaceuticals Provides Corporate Update and Reports Fourth Quarter and Full Year 2023 Financial Results
Questions or Comments about the article? Write to editor@tipranks.com