- Needham has initiated Avadel Pharmaceuticals Plc AVDL coverage with a Buy rating and $17 price target.
- Analyst Ami Fadia sees an upside of almost 88%.
- The analyst tells investors that the Company's sodium oxybate launch and sales potential are "underappreciated."
- Fadia further contends that FT218 will be approved on PDUFA date October 15 to treat excessive daytime sleepiness and cataplexy in narcolepsy.
- The analyst also notes that the IP litigation initiated by Jazz Pharmaceuticals Plc JAZZ against Avadel shouldn't delay FT218's launch.
- Price Action: AVDL stock is up 10.50% at $9.05 during the market session on the last check Thursday.
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