Avadel Pharmaceuticals (AVDL) to Release Earnings on Wednesday

Avadel Pharmaceuticals (NASDAQ:AVDL) is scheduled to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Avadel Pharmaceuticals to post earnings of ($0.25) per share for the quarter.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $19.45 million during the quarter, compared to the consensus estimate of $17.41 million. During the same period in the previous year, the business posted ($0.44) EPS. On average, analysts expect Avadel Pharmaceuticals to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Avadel Pharmaceuticals Trading Down 2.7 %

NASDAQ AVDL traded down $0.50 on Thursday, reaching $17.81. 65,350 shares of the stock were exchanged, compared to its average volume of 1,181,993. The firm has a market capitalization of $1.61 billion, a PE ratio of -8.98 and a beta of 1.61. Avadel Pharmaceuticals has a one year low of $9.50 and a one year high of $19.04. The company’s 50-day simple moving average is $16.17 and its two-hundred day simple moving average is $14.12.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVDL shares. Craig Hallum upped their price objective on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Piper Sandler lifted their price objective on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Oppenheimer boosted their price target on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a research note on Tuesday, April 9th. Finally, HC Wainwright boosted their target price on shares of Avadel Pharmaceuticals from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $22.57.

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.