H.C. Wainwright raised the firm’s price target on Avadel Pharmaceuticals (AVDL) to $17.50 from $14 and keeps a Buy rating on the shares following approval of Lumryz, a once-nightly sodium oxybate for narcolepsy to compete with JJazz Pharmaceuticals’ (JAZZ) Xyrem/Xywav franchise. The news that Lumryz received its own seven-year orphan exclusivity to May 2030 is a positive surprise to many investors, the analyst tells investors in a research note.
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Published first on TheFly
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Read More on AVDL:
- Avadel Pharmaceuticals Announces Final FDA Approval of LUMRYZ™ (sodium oxybate) for Extended-Release Oral Suspension as the First and Only Once-at-Bedtime Oxybate for Cataplexy or Excessive Daytime Sleepiness in Adults with Narcolepsy
- Avadel Pharmaceuticals announces final FDA approval of LUMRYZ
- Avadel Pharmaceuticals management to meet with Needham
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- Avadel Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
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