Leerink Partnrs Analysts Reduce Earnings Estimates for AVDL

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Analysts at Leerink Partnrs reduced their FY2024 earnings per share estimates for Avadel Pharmaceuticals in a report released on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now expects that the company will earn ($0.53) per share for the year, down from their prior forecast 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.

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 analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $50.00 million during the quarter, compared to the consensus estimate of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.41) EPS.

A number of other research analysts also recently weighed in on the company. Oppenheimer upped 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. Finally, HC Wainwright dropped their price target on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Stock Down 5.9 %

AVDL opened at $10.91 on Friday. The company has a fifty day moving average of $13.49 and a 200-day moving average of $15.02. The stock has a market cap of $1.05 billion, a PE ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a twelve month low of $10.39 and a twelve month high of $19.09.

Institutional Trading of Avadel Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in AVDL. Barclays PLC grew its position in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock valued at $5,150,000 after acquiring an additional 123,430 shares during the period. MML Investors Services LLC grew its holdings in Avadel Pharmaceuticals by 13.8% during 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 during the period. Dorsey Wright & Associates grew its holdings in Avadel Pharmaceuticals by 12.9% during the third quarter. Dorsey Wright & Associates now owns 142,120 shares of the company’s stock valued at $1,864,000 after purchasing an additional 16,215 shares during the period. XTX Topco Ltd purchased a new stake in Avadel Pharmaceuticals in the third quarter worth $642,000. Finally, Wellington Management Group LLP bought a new stake in shares of Avadel Pharmaceuticals in the third quarter valued at $633,000. Institutional investors 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.