Ladenburg analyst Matthew Kaplan raised the firm’s price target on Avadel Pharmaceuticals to $16 from $14.50 and keeps a Buy rating on the shares after the company received final FDA approval of Lumryz, a once nightly dosing of extended-release sodium oxybate oral suspension for cataplexy or excessive daytime sleepiness in adults with narcolepsy. The firm notes that the FDA approved Avadel’s pre-launch activities important requests for Lumryz, which will allow Avadel to shorten the timeline for commercial availability after final approval.
Published first on TheFly
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Read More on AVDL:
- Avadel price target raised to $17.50 from $14 at H.C. Wainwright
- 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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