Research Analysts Set Expectations for AVDL FY2024 Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDLFree Report) – Lifesci Capital reduced their FY2024 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a research note issued on Thursday, January 9th. Lifesci Capital analyst M. Belghiti now anticipates that the company will post earnings of ($0.46) per share for the year, down from their previous estimate of ($0.38). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.48) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.05) EPS.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. Avadel Pharmaceuticals’s revenue was up 624.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) earnings per share.

Other research analysts have also recently issued research reports about the stock. Piper Sandler decreased their price objective on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday. Needham & Company LLC decreased their target price on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday. 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. Finally, HC Wainwright restated a “buy” rating and set a $21.00 target price (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Get Our Latest Stock Report on AVDL

Avadel Pharmaceuticals Trading Down 26.1 %

Avadel Pharmaceuticals stock opened at $7.90 on Monday. The firm has a market capitalization of $761.26 million, a P/E ratio of -10.00 and a beta of 1.31. The business has a 50-day moving average of $11.27 and a 200-day moving average of $13.49. Avadel Pharmaceuticals has a 1 year low of $7.39 and a 1 year high of $19.09.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in AVDL. Lord Abbett & CO. LLC boosted its holdings in Avadel Pharmaceuticals by 23.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock valued at $6,414,000 after purchasing an additional 94,239 shares during the period. Barclays PLC grew its holdings in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock worth $5,150,000 after purchasing an additional 123,430 shares in the last quarter. MML Investors Services LLC raised its stake in Avadel Pharmaceuticals by 13.8% in the third quarter. MML Investors Services LLC now owns 136,356 shares of the company’s stock valued at $1,788,000 after purchasing an additional 16,500 shares in the last quarter. Dorsey Wright & Associates lifted its position in Avadel Pharmaceuticals by 12.9% during the third quarter. Dorsey Wright & Associates now owns 142,120 shares of the company’s stock worth $1,864,000 after purchasing an additional 16,215 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Avadel Pharmaceuticals during the third quarter worth about $642,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

Insider Activity

In related news, Director Linda Palczuk bought 3,000 shares of Avadel Pharmaceuticals stock in a transaction that occurred on Friday, December 6th. The stock was acquired at an average price of $10.19 per share, with a total value of $30,570.00. Following the acquisition, the director now owns 66,400 shares of the company’s stock, valued at approximately $676,616. This represents a 4.73 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey Michael Glass purchased 20,279 shares of the stock in a transaction on Tuesday, December 10th. The stock was bought at an average cost of $9.84 per share, for a total transaction of $199,545.36. Following the completion of the acquisition, the director now owns 75,904 shares in the company, valued at approximately $746,895.36. This trade represents a 36.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 40,579 shares of company stock valued at $406,313. 4.80% of the stock is owned by insiders.

About Avadel Pharmaceuticals

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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.

Further Reading

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

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