FY2024 Earnings Forecast for AVDL Issued By Leerink Partnrs

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Analysts at Leerink Partnrs reduced their FY2024 earnings estimates for shares of Avadel Pharmaceuticals in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of ($0.53) for the year, down from their previous estimate of ($0.45). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. Leerink Partnrs also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.06) EPS and FY2027 earnings at $2.65 EPS.

AVDL has been the topic of several other reports. HC Wainwright lowered their target price on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer boosted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Avadel Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $24.43.

Avadel Pharmaceuticals Trading Down 5.9 %

Shares of Avadel Pharmaceuticals stock opened at $10.91 on Friday. The company’s 50-day moving average price is $13.49 and its 200-day moving average price is $15.02. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a 12-month low of $10.39 and a 12-month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $50.00 million during the quarter, compared to analyst estimates of $48.43 million. During the same period last year, the company earned ($0.41) earnings per share. The business’s revenue for the quarter was up 624.6% on a year-over-year basis.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Institutional investors have recently modified their holdings of the company. FMR LLC bought a new stake in Avadel Pharmaceuticals in the 3rd quarter worth approximately $31,000. Amalgamated Bank purchased a new position in shares of Avadel Pharmaceuticals during the second quarter worth approximately $45,000. BNP Paribas Financial Markets lifted its holdings in shares of Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after acquiring an additional 1,685 shares during the last quarter. Quarry LP purchased a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at $63,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Avadel Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after purchasing an additional 2,846 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors.

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.