What is Lifesci Capital’s Forecast for AVDL FY2024 Earnings?

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Lifesci Capital boosted their FY2024 earnings estimates for shares of Avadel Pharmaceuticals in a research report issued to clients and investors on Tuesday, November 12th. Lifesci Capital analyst M. Belghiti now forecasts that the company will post earnings per share of ($0.38) for the year, up from their previous forecast of ($0.46). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at $0.03 EPS.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results 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 company had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. Avadel Pharmaceuticals’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share.

Several other research firms have also issued reports on AVDL. HC Wainwright reduced their target price on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research report on Tuesday. Finally, Oppenheimer upped their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Stock Down 3.6 %

NASDAQ AVDL opened at $11.59 on Friday. Avadel Pharmaceuticals has a 52 week low of $10.39 and a 52 week high of $19.09. The stock’s 50-day moving average price is $13.62 and its 200-day moving average price is $15.09.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC purchased a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter worth approximately $31,000. Amalgamated Bank bought a new stake in Avadel Pharmaceuticals in the second quarter worth $45,000. BNP Paribas Financial Markets raised its stake in Avadel Pharmaceuticals by 60.5% during the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after purchasing an additional 1,685 shares in the last quarter. Quarry LP bought a new position in Avadel Pharmaceuticals during the second quarter valued at $63,000. Finally, Advisors Asset Management Inc. grew its stake in shares of Avadel Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock worth $104,000 after buying an additional 2,846 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

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.