Avadel Pharmaceuticals price target raised to $27 from $25 at Oppenheimer

Oppenheimer analyst Francois Brisebois raised the firm’s price target on Avadel Pharmaceuticals to $27 from $25 and keeps an Outperform rating on the shares. Avadel reported preliminary Q4 numbers, and the firm is pleased with the “robust improvements” across physician, patient, and coverage KPIs compared to Q3. Encouragingly, preliminary topline of $19M beat both Oppenheimer’s estimate of $15.2M and Street consensus of $15.9M. The firm remains pleased by progress on the payer front.