Avadel Pharmaceuticals plc (NASDAQ:AVDL) Expected to Earn Q4 2024 Earnings of $0.07 Per Share

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Stock analysts at Leerink Partnrs reduced their Q4 2024 earnings per share (EPS) estimates for Avadel Pharmaceuticals in a research report issued on Wednesday, May 8th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $0.07 per share for the quarter, down from their previous forecast of $0.15. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.46) per share.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The firm had revenue of $27.18 million during the quarter, compared to the consensus estimate of $25.89 million. The business’s quarterly revenue was up 2617.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.48) earnings per share.

Several other equities research analysts have also issued reports on AVDL. Piper Sandler lifted their price target on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Wednesday. Oppenheimer upped their price target on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. UBS Group began coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, HC Wainwright upped their target price on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.17.

Avadel Pharmaceuticals Trading Down 2.6 %

Shares of NASDAQ AVDL opened at $15.83 on Friday. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.76 and a beta of 1.61. Avadel Pharmaceuticals has a 12 month low of $9.50 and a 12 month high of $19.09. The stock has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $14.39.

Institutional Trading of Avadel Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RTW Investments LP lifted its holdings in Avadel Pharmaceuticals by 4.8% during the 3rd quarter. RTW Investments LP now owns 7,136,415 shares of the company’s stock worth $73,505,000 after buying an additional 325,774 shares during the period. Gendell Jeffrey L raised its position in shares of Avadel Pharmaceuticals by 4.1% during the third quarter. Gendell Jeffrey L now owns 5,615,350 shares of the company’s stock worth $57,838,000 after acquiring an additional 219,290 shares during the last quarter. Vivo Capital LLC lifted its stake in shares of Avadel Pharmaceuticals by 7.0% in the third quarter. Vivo Capital LLC now owns 4,096,428 shares of the company’s stock worth $42,193,000 after acquiring an additional 266,851 shares during the period. Wealth Effects LLC boosted its holdings in Avadel Pharmaceuticals by 0.3% in the fourth quarter. Wealth Effects LLC now owns 2,416,326 shares of the company’s stock valued at $34,119,000 after acquiring an additional 7,037 shares during the last quarter. Finally, Brandes Investment Partners LP increased its position in Avadel Pharmaceuticals by 5.9% during the 4th quarter. Brandes Investment Partners LP now owns 1,533,614 shares of the company’s stock valued at $21,655,000 after purchasing an additional 84,842 shares during the period. 69.19% of the stock is currently owned by institutional investors and hedge funds.

About Avadel Pharmaceuticals

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.