Zacks: Analysts Expect Avadel Pharmaceuticals plc (NASDAQ:AVDL) Will Post Earnings of -$0.44 Per Share

Analysts expect Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) to report ($0.44) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Avadel Pharmaceuticals’ earnings, with estimates ranging from ($0.52) to ($0.38). Avadel Pharmaceuticals posted earnings per share of ($0.23) in the same quarter last year, which indicates a negative year-over-year growth rate of 91.3%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Avadel Pharmaceuticals will report full year earnings of ($1.50) per share for the current financial year, with EPS estimates ranging from ($2.46) to ($0.51). For the next fiscal year, analysts forecast that the business will post earnings of ($0.10) per share, with EPS estimates ranging from ($0.63) to $0.75. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Avadel Pharmaceuticals.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last announced its quarterly earnings data on Thursday, March 17th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.03. During the same quarter in the prior year, the company posted ($0.24) EPS.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, March 21st. Craig Hallum lowered their target price on Avadel Pharmaceuticals from $22.50 to $20.00 in a report on Thursday, March 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Avadel Pharmaceuticals in a research report on Friday, March 18th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Avadel Pharmaceuticals by 1.4% in the 2nd quarter. Wells Fargo & Company MN now owns 214,950 shares of the company’s stock valued at $1,447,000 after purchasing an additional 2,950 shares during the period. Janney Montgomery Scott LLC increased its stake in Avadel Pharmaceuticals by 8.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 44,758 shares of the company’s stock valued at $362,000 after buying an additional 3,472 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Avadel Pharmaceuticals in the 1st quarter worth approximately $26,000. GSA Capital Partners LLP grew its holdings in shares of Avadel Pharmaceuticals by 8.0% during the 3rd quarter. GSA Capital Partners LLP now owns 57,148 shares of the company’s stock valued at $560,000 after acquiring an additional 4,215 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Avadel Pharmaceuticals by 21.7% in the third quarter. BlackRock Inc. now owns 29,915 shares of the company’s stock worth $293,000 after acquiring an additional 5,337 shares during the last quarter. Hedge funds and other institutional investors own 55.74% of the company’s stock.

NASDAQ:AVDL traded up $1.09 during midday trading on Tuesday, reaching $5.30. 12,756,219 shares of the company traded hands, compared to its average volume of 575,194. The company has a debt-to-equity ratio of 1.82, a current ratio of 9.17 and a quick ratio of 9.17. The firm has a market capitalization of $312.87 million, a price-to-earnings ratio of -4.02 and a beta of 0.99. Avadel Pharmaceuticals has a twelve month low of $4.21 and a twelve month high of $11.59. The company has a fifty day moving average price of $7.05 and a 200 day moving average price of $7.78.

About Avadel Pharmaceuticals (Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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.

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