11 Best Pharma Stocks to Invest in for the Long Term

7. Avadel Pharmaceuticals plc (NASDAQ:AVDL)

Number of Hedge Fund Holders: 29

Avadel Pharmaceuticals plc (NASDAQ:AVDL), a Dublin-based biopharmaceutical company, is gaining attention in the sleep medicine space with its flagship product LUMRYZ™, the first and only once-at-bedtime oxybate therapy approved for narcolepsy patients with cataplexy or excessive daytime sleepiness.

The company’s growth has accelerated in 2025, fueled by the rapid adoption of LUMRYZ™. In its most recent quarter, Avadel Pharmaceuticals plc (NASDAQ:AVDL) reported a 64% year-over-year sales increase, reflecting strong demand from both patients and providers. August earnings further exceeded analyst expectations, strengthening optimism that LUMRYZ™ could become the standard of care in narcolepsy management.

Clinical development remains a priority, with ongoing Phase 3 trials supporting the product’s safety and efficacy profile. Success in these studies could lead to label expansions and broader patient access in the near future. Avadel Pharmaceuticals plc (NASDAQ:AVDL) is also investing in new clinical programs that may extend LUMRYZ’s use beyond narcolepsy to other central nervous system disorders, signaling a long-term strategy to diversify its portfolio.