|Over a week ago|
Largest borrow rate increases among liquid names » 08:4509/0909/09/22
FAZE, GETY, NEGG, AVDL, EDU, PSNY, TIGR, FAZ, SOXX, IMRA
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: (FAZE) 1058.11% +262.71, Getty Images (GETY) 955.63% +1.26, Newegg Commerce (NEGG) 61.04% +1.23, Avadel Pharmaceuticals (AVDL) 10.23% +0.75, New Oriental Education (EDU) 1.52% +0.66, Polestar Automotive (PSNY) 272.85% +0.62, UP Fintech Holding Ltd (TIGR) 38.07% +0.46, Financial Bear 3X (FAZ) 19.16% +0.41, iShares PHLX SOX Semiconductor Sector Index Fund (SOXX) 2.21% +0.30, and IMARA (IMRA) 14.02% +0.27.
Avadel Pharmaceuticals files $500M mixed securities shelf 16:5308/3108/31/22
|Over a month ago|
Largest borrow rate increases among liquid names » 08:4508/1208/12/22
WRBY, EXPI, NEGG, VTNR, SAVA, BCAB, AVDL, DWAC, ENDP, CAN
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Warby Parker (WRBY) 13.35% +2.28, eXp World Holdings (EXPI) 4.08% +0.90, Newegg Commerce (NEGG) 68.02% +0.75, Vertex Energy (VTNR) 5.67% +0.69, Cassava Sciences (SAVA) 42.09% +0.54, BioAtla (BCAB) 1.40% +0.29, Avadel Pharmaceuticals (AVDL) 12.01% +0.28, Digital World Acquisition Corp (DWAC) 50.81% +0.25, Endo (ENDP) 6.77% +0.20, and Canaan Inc (CAN) 1.22% +0.18.
Avadel Pharmaceuticals price target raised to $12 from $6 at SVB Securities » 07:2408/1108/11/22
SVB Securities analyst…
SVB Securities analyst Ami Fadia raised the firm's price target on Avadel Pharmaceuticals to $12 from $6 and keeps an Outperform rating on the shares. The analyst notes Avadel reported Q2 numbers, and with the recent tentative approval of Lumryz signaling completion of the FDA's review of the NDA, management focused the conference call on the game plan for preparing for commercial launch and potentially accelerating the timeline to final approval of Lumryz.
Jefferies cuts Avadel to Hold while awaiting Lumryz full approval » 07:5908/1008/10/22
As previously reported,…
As previously reported, Jefferies analyst Chris Howerton downgraded Avadel Pharmaceuticals to Hold from Buy with a price target of $8, up from $6, stating that the tentative approval of Lumryz assures a Q3 of 2023 launch and the workforce cuts resolve much uncertainty for the path ahead. While he maintains conviction in Lumryz to deliver value in narcolepsy, the stock now appears to price in his base case and he is stepping to the sideline as he sees limited upside given "a fast approaching Goldilocks window" before oxybate generics enter the market in 2025. He is pricing in peak capture of nearly 4,000 narcolepsy patients in 2025 before the market entry of generic oxybate, Howerton noted.
Avadel Pharmaceuticals downgraded to Hold from Buy at Jefferies » 18:0208/0908/09/22
Jefferies analyst Chris…
Jefferies analyst Chris Howerton downgraded Avadel Pharmaceuticals to Hold from Buy with a price target of $8, up from $6.
Avadel Pharmaceuticals sees cash runway to middle of 2023 » 07:1508/0908/09/22
Cash, cash equivalents…
Cash, cash equivalents and marketable securities were $104.1 million as of June 30, 2022. Subsequent to June, Avadel received $9.9 million of tax refunds and expects to receive an additional $7.3 million of tax refunds. The Company has $26.4 million of convertible debt that matures in February 2023 and $117.4 million that matures in October 2023.
Avadel Pharmaceuticals reports Q2 EPS ($1.07), consensus (41c) » 07:1308/0908/09/22
"The receipt of…
"The receipt of tentative approval from the FDA marks an important milestone in our pursuit to bring LUMRYZ to all oxybate eligible people living with narcolepsy. In addition to validating LUMRYZ's strong clinical and safety profile, we now know the timing to a potential final approval is June 2023 or sooner," said Greg Divis, Chief Executive Officer of Avadel Pharmaceuticals. "We will continue to aggressively pursue all options for this clear unmet need in the $3 billion plus once nightly oxybate market to accelerate a final approval decision prior to June 2023 and launch as quickly as possible thereafter."
Avadel Pharmaceuticals assumed with a Buy at Craig-Hallum » 09:4307/2807/28/22
Craig-Hallum analyst Chase Knickerbocker assumed coverage of Avadel Pharmaceuticals with a Buy rating with a price target of $12, down from $15.50, citing his "slightly more conservative" revenue ramp estimates. Avadel has five quarters of cash, with full approval for Lumryz to come within four quarters regardless of patent outcome, contends Knickerbocker, who thinks the stock is currently being mispriced and believes owning the stock now before full approval "generates upside" even if the company needs capital for a commercial launch. "Even in the worst-case scenario we see more than 2x upside as Lumryz and its 1x/nightly dosing becomes a dominant player in the narcolepsy market," the analyst added.
Avadel Pharmaceuticals price target raised to $5 from $2 at Stifel » 13:4607/1907/19/22
Stifel analyst Paul…
Stifel analyst Paul Matteis raised the firm's price target on Avadel Pharmaceuticals to $5 from $2 and keeps a Hold rating on the shares. The analyst remains on the sidelines following the announcement that FT218 has received tentative approval. While "encouraging," Matteis still views a path to accelerating a full approval as unlikely. Separately, while the valuation is "fairly cheap" for a tentative approved commercial asset in a big market, there are "complicating factors" in his view including launch costs and building/supporting a REMS, Avadel's cash needs with converts due 2023, residual ODE questions, and oxybate market dynamics which are becoming increasingly challenging.