Shares of Avadel Pharmaceuticals (NASDAQ: AVDL) jumped more than 12% following a favorable court ruling over a patent dispute with Jazz Pharmaceuticals (NASDAQ: JAZZ).
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As a result, Jazz Pharmaceuticals will have to remove U.S. Patent no. 873193 from the FDA’s Orange Book, which could speed up the approval of its Lumryz drug.
Is AVDL Stock a Good Buy?
AVDL stock has a Strong Buy consensus rating based on five Buys assigned in the past three months. The average AVDL stock price target of $12.40 implies almost 54% upside potential.
Is JAZZ a Good Stock to Buy?
JAZZ stock has a Strong Buy consensus rating based on nine Buys, one Hold, and zero Sells assigned in the past three months. The average JAZZ stock price target of $195.40 implies almost 33% upside potential.
