FY2024 Earnings Forecast for AVDL Issued By Lifesci Capital

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Lifesci Capital upped their FY2024 earnings estimates for Avadel Pharmaceuticals in a research note issued to investors on Tuesday, November 12th. Lifesci Capital analyst M. Belghiti now anticipates that the company will earn ($0.38) per share for the year, up from their previous forecast of ($0.46). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at $0.03 EPS.

Several other equities research analysts also recently commented on the stock. HC Wainwright lowered their target price on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Tuesday. Finally, Oppenheimer lifted their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Trading Down 5.9 %

Shares of AVDL opened at $10.91 on Friday. The stock has a market cap of $1.05 billion, a P/E ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09. The stock’s 50-day moving average price is $13.49 and its two-hundred day moving average price is $15.02.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $48.43 million. During the same quarter in the previous year, the company posted ($0.41) EPS. The business’s revenue for the quarter was up 624.6% compared to the same quarter last year.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Large investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock valued at $218,182,000 after purchasing an additional 1,789,830 shares during the last quarter. Braidwell LP raised its stake in shares of Avadel Pharmaceuticals by 16.9% during the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after purchasing an additional 490,300 shares in the last quarter. State Street Corp boosted its holdings in shares of Avadel Pharmaceuticals by 42.5% in the 3rd quarter. State Street Corp now owns 1,623,302 shares of the company’s stock valued at $21,290,000 after buying an additional 483,787 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of Avadel Pharmaceuticals in the second quarter valued at $4,921,000. Finally, Bank of New York Mellon Corp acquired a new position in Avadel Pharmaceuticals during the second quarter worth $4,575,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is LUMRYZ, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy. The company was formerly known as Flamel Technologies SA and changed its name to Avadel Pharmaceuticals plc in January 2017.