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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Equities researchers at Lifesci Capital reduced their FY2024 earnings per share estimates for shares of Avadel Pharmaceuticals in a research note issued on Thursday, January 9th. Lifesci Capital analyst M. Belghiti now forecasts that the company will post earnings of ($0.46) per share for the year, down from their previous forecast of ($0.38). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.48) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.05) EPS.

Several other brokerages also recently issued reports on AVDL. Piper Sandler lowered their price target on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer lifted their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Needham & Company LLC reduced their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price (down previously from $25.00) on shares of Avadel Pharmaceuticals in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals has an average rating of “Buy” and an average target price of $22.00.

Avadel Pharmaceuticals Stock Down 26.1 %

NASDAQ:AVDL opened at $7.90 on Monday. The company’s 50 day moving average is $11.27 and its 200-day moving average is $13.49. The firm has a market cap of $761.26 million, a price-to-earnings ratio of -10.00 and a beta of 1.31. Avadel Pharmaceuticals has a 12 month low of $7.39 and a 12 month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly 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. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. During the same quarter last year, the firm earned ($0.41) EPS. Avadel Pharmaceuticals’s revenue for the quarter was up 624.6% on a year-over-year basis.

Insiders Place Their Bets

In related news, Director Linda Palczuk purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were acquired at an average price of $10.19 per share, with a total value of $30,570.00. Following the purchase, the director now directly owns 66,400 shares in the company, valued at $676,616. This represents a 4.73 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas S. Mchugh acquired 5,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $10.49 per share, with a total value of $52,450.00. Following the completion of the purchase, the chief financial officer now directly owns 85,500 shares of the company’s stock, valued at approximately $896,895. This represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 40,579 shares of company stock worth $406,313 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in Avadel Pharmaceuticals during the third quarter worth about $31,000. Amalgamated Bank acquired a new position in Avadel Pharmaceuticals in the second quarter worth $45,000. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals during the second quarter worth $63,000. Advisors Asset Management Inc. increased its stake in shares of Avadel Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after buying an additional 2,846 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Avadel Pharmaceuticals in the third quarter valued at about $160,000. 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.