H.C. Wainwright raised the firm’s price target on Avadel Pharmaceuticals (AVDL) to $17.50 from $14 and keeps a Buy rating on the shares following approval of Lumryz, a once-nightly sodium oxybate for narcolepsy to compete with JJazz Pharmaceuticals’ (JAZZ) Xyrem/Xywav franchise. The news that Lumryz received its own seven-year orphan exclusivity to May 2030 is a positive surprise to many investors, the analyst tells investors in a research note.
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Published first on TheFly
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