Needham Initiates Coverage With Buy For This Narcolepsy Player
- Needham has initiated Avadel Pharmaceuticals Plc (NASDAQ: AVDL) coverage with a Buy rating and $17 price target.
- Analyst Ami Fadia sees an upside of almost 88%.
- The analyst tells investors that the Company's sodium oxybate launch and sales potential are "underappreciated."
- Fadia further contends that FT218 will be approved on PDUFA date October 15 to treat excessive daytime sleepiness and cataplexy in narcolepsy.
- The analyst also notes that the IP litigation initiated by Jazz Pharmaceuticals Plc (NASDAQ: JAZZ) against Avadel shouldn't delay FT218's launch.
- Price Action: AVDL stock is up 10.50% at $9.05 during the market session on the last check Thursday.
Latest Ratings for AVDL
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jan 2022 | Needham | Maintains | Buy | |
| Sep 2021 | Needham | Initiates Coverage On | Buy | |
| Mar 2021 | HC Wainwright & Co. | Maintains | Buy |
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