Avadel Pharmaceuticals price target raised to $25 from $21 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Avadel Pharmaceuticals (AVDL) to $25 from $21 and keeps a Buy rating on the shares. The company reported strong Q4 results, with “remarkable” sequential Lumryz sales growth, and ended the day with an “important de-risking event” with a jury verdict in the patent infringement trial brought by competitor Jazz (JAZZ), the analyst tells investors in a research note. The firm believes this litigation was an overhang on Avadel stock sentiment.