Q2 2022 EPS Estimates for Avadel Pharmaceuticals plc (NASDAQ:AVDL) Lowered by Oppenheimer

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) – Oppenheimer lowered their Q2 2022 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a research report issued on Monday, May 9th. Oppenheimer analyst F. Brisebois now anticipates that the company will post earnings per share of ($0.39) for the quarter, down from their previous forecast of ($0.38). Oppenheimer also issued estimates for Avadel Pharmaceuticals’ Q3 2022 earnings at ($0.41) EPS, Q4 2022 earnings at ($0.44) EPS and FY2022 earnings at ($1.69) EPS.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.02).

Several other research firms also recently weighed in on AVDL. Zacks Investment Research upgraded Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, March 21st. Craig Hallum decreased their target price on Avadel Pharmaceuticals from $22.50 to $20.00 in a research report on Thursday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Avadel Pharmaceuticals in a research report on Friday, March 18th.

Shares of AVDL opened at $3.80 on Thursday. The company has a market cap of $224.32 million, a PE ratio of -2.30 and a beta of 1.13. The business has a fifty day moving average of $6.27 and a 200 day moving average of $7.37. Avadel Pharmaceuticals has a 52-week low of $3.49 and a 52-week high of $11.59. The company has a quick ratio of 9.17, a current ratio of 3.65 and a debt-to-equity ratio of 2.11.

Several hedge funds have recently added to or reduced their stakes in AVDL. Morgan Stanley raised its holdings in shares of Avadel Pharmaceuticals by 67.9% in the second quarter. Morgan Stanley now owns 376,265 shares of the company’s stock valued at $2,533,000 after acquiring an additional 152,186 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Avadel Pharmaceuticals by 34.8% in the second quarter. Bank of America Corp DE now owns 55,838 shares of the company’s stock valued at $376,000 after acquiring an additional 14,425 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Avadel Pharmaceuticals by 1.4% in the second quarter. Wells Fargo & Company MN now owns 214,950 shares of the company’s stock valued at $1,447,000 after acquiring an additional 2,950 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Avadel Pharmaceuticals by 21.7% in the third quarter. BlackRock Inc. now owns 29,915 shares of the company’s stock valued at $293,000 after acquiring an additional 5,337 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Avadel Pharmaceuticals by 599.3% in the third quarter. Citigroup Inc. now owns 24,762 shares of the company’s stock valued at $243,000 after acquiring an additional 21,221 shares in the last quarter. Hedge funds and other institutional investors own 59.18% of the company’s stock.

About Avadel Pharmaceuticals (Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.

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Earnings History and Estimates for Avadel Pharmaceuticals (NASDAQ:AVDL)

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