Avadel Pharmaceuticals plc to Post Q4 2024 Earnings of $0.01 Per Share, Leerink Partnrs Forecasts (NASDAQ:AVDL)

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Leerink Partnrs lowered their Q4 2024 earnings estimates for Avadel Pharmaceuticals in a report issued on Thursday, August 8th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $0.01 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.58) per share. Leerink Partnrs also issued estimates for Avadel Pharmaceuticals’ FY2025 earnings at $1.05 EPS and FY2026 earnings at $2.15 EPS.

AVDL has been the subject of several other reports. Rodman & Renshaw began coverage on shares of Avadel Pharmaceuticals in a research report on Wednesday, June 12th. They set a “buy” rating and a $27.00 price objective for the company. HC Wainwright upped their target price on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a research report on Friday, August 9th. Finally, Craig Hallum upped their price objective on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $24.57.

Avadel Pharmaceuticals Stock Up 1.5 %

Shares of Avadel Pharmaceuticals stock opened at $16.24 on Monday. Avadel Pharmaceuticals has a 52-week low of $9.50 and a 52-week high of $19.09. The company has a market capitalization of $1.56 billion, a P/E ratio of -8.73 and a beta of 1.53. The company has a 50 day moving average of $15.63 and a 200 day moving average of $15.77.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 139.72% and a negative net margin of 284.42%. The business had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $37.47 million. During the same quarter last year, the business posted ($0.70) EPS. The business’s quarterly revenue was up 2666.7% compared to the same quarter last year.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter worth approximately $804,000. Lord Abbett & CO. LLC acquired a new stake in Avadel Pharmaceuticals in the first quarter valued at about $3,264,000. Russell Investments Group Ltd. purchased a new stake in Avadel Pharmaceuticals in the 1st quarter valued at approximately $1,943,000. 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 worth $21,655,000 after purchasing an additional 84,842 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new position in Avadel Pharmaceuticals during the 4th quarter worth approximately $1,503,000. Institutional investors and hedge funds own 69.19% of the company’s stock.

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.