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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Research analysts at Lifesci Capital increased their FY2024 earnings per share estimates for Avadel Pharmaceuticals in a report issued on Tuesday, November 12th. Lifesci Capital analyst M. Belghiti now anticipates 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.

AVDL has been the subject of several other reports. Oppenheimer raised 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. HC Wainwright lowered their target price on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Stock Performance

NASDAQ AVDL opened at $10.91 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -13.81 and a beta of 1.47. The business’s fifty day moving average is $13.49 and its two-hundred day moving average is $15.02. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09.

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

Institutional Investors Weigh In On Avadel Pharmaceuticals

A number of large investors have recently bought and sold shares of AVDL. BNP Paribas Financial Markets increased its position in Avadel Pharmaceuticals by 60.5% in the 1st quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after acquiring an additional 1,685 shares in the last quarter. Quantbot Technologies LP acquired a new position in Avadel Pharmaceuticals during the 1st quarter worth $353,000. Russell Investments Group Ltd. acquired a new position in Avadel Pharmaceuticals during the 1st quarter worth $1,943,000. Avantax Advisory Services Inc. boosted its position in Avadel Pharmaceuticals by 123.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 55,756 shares of the company’s stock valued at $942,000 after buying an additional 30,856 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Avadel Pharmaceuticals in the 1st quarter valued at $3,264,000. 69.19% of the stock is currently owned by institutional investors.

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.