HC Wainwright Has Pessimistic View of AVDL FY2024 Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Equities research analysts at HC Wainwright cut their FY2024 EPS estimates for Avadel Pharmaceuticals in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst O. Livnat now anticipates that the company will post earnings per share of ($0.54) for the year, down from their previous estimate of ($0.42). HC Wainwright currently has a “Buy” rating and a $25.00 price target on the stock. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.08) EPS, FY2025 earnings at $0.41 EPS and FY2026 earnings at $1.27 EPS.

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

A number of other equities research analysts also recently weighed in on AVDL. Oppenheimer raised their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Trading Down 5.9 %

AVDL opened at $10.91 on Friday. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09. The stock has a fifty day moving average price of $13.49 and a 200 day moving average price of $15.00. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new stake in Avadel Pharmaceuticals during the 3rd quarter worth approximately $31,000. Amalgamated Bank acquired a new stake in Avadel Pharmaceuticals in the 2nd quarter valued at about $45,000. Quarry LP bought a new position in shares of Avadel Pharmaceuticals in the second quarter worth about $63,000. BNP Paribas Financial Markets lifted its position in shares of Avadel Pharmaceuticals by 60.5% during the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after purchasing an additional 1,685 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Avadel Pharmaceuticals by 56.1% during the third 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 and hedge funds.

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.