H.C. Wainwright raised the firm’s price target on Avadel Pharmaceuticals (AVDL) to $36 from $24 and keeps a Buy rating on the shares. The company entered into an exclusive global license agreement with XWPharma to develop and commercialize valiloxybate for all indications, the analyst tells investors in a research note. The firm added valiloxybate to its valuation assessment, saying the candidate could be developed via a streamlined clinical pathway than Lumryz in both narcolepsy and idiopathic hypersomnia.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AVDL:
- Avadel Pharmaceuticals price target lowered to $36 from $246 at H.C. Wainwright
- Avadel Pharmaceuticals Signs Global License Agreement for Sleep Drug
- Avadel Pharmaceuticals assumed with an Outperform at LifeSci Capital
- Avadel Pharmaceuticals: Strong Sales Growth and Strategic Positioning Drive Buy Rating
- Avadel Pharmaceuticals initiated with an Equal Weight at Wells Fargo