What is HC Wainwright’s Estimate for AVDL FY2024 Earnings?

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Equities research analysts at HC Wainwright dropped their FY2024 earnings per share estimates for Avadel Pharmaceuticals in a research report issued on Wednesday, November 13th. HC Wainwright analyst O. Livnat now anticipates that the company will earn ($0.54) per share for the year, down from their prior forecast of ($0.42). HC Wainwright currently has a “Buy” rating and a $25.00 target price 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.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday. Oppenheimer upped their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Stock Performance

AVDL stock opened at $10.91 on Friday. The business’s 50-day moving average is $13.49 and its two-hundred day moving average is $15.02. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a fifty-two week low of $10.39 and a fifty-two week high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings data 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 company had revenue of $50.00 million for 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 firm’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 earned ($0.41) earnings per share.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after buying an additional 1,685 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Avadel Pharmaceuticals during the first quarter worth about $353,000. Russell Investments Group Ltd. bought a new stake in Avadel Pharmaceuticals during the 1st quarter valued at approximately $1,943,000. Avantax Advisory Services Inc. lifted its holdings in Avadel Pharmaceuticals by 123.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 55,756 shares of the company’s stock worth $942,000 after purchasing an additional 30,856 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in Avadel Pharmaceuticals in the 1st quarter worth approximately $3,264,000. 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.