FY2022 EPS Estimates for Avadel Pharmaceuticals plc (NASDAQ:AVDL) Decreased by Analyst

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) – Stock analysts at HC Wainwright cut their FY2022 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 16th. HC Wainwright analyst O. Livnat now forecasts that the company will earn ($2.14) per share for the year, down from their previous forecast of ($2.05). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($1.98) per share. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q4 2022 earnings at ($0.30) EPS, FY2023 earnings at ($1.20) EPS, FY2025 earnings at $0.87 EPS and FY2026 earnings at $1.34 EPS.

Several other research analysts also recently commented on the stock. Craig Hallum decreased their target price on shares of Avadel Pharmaceuticals from $15.50 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. SVB Leerink upped their price objective on shares of Avadel Pharmaceuticals from $6.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Needham & Company LLC raised their target price on Avadel Pharmaceuticals from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, Jefferies Financial Group lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and upped their price target for the company from $6.00 to $8.00 in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.29.

Avadel Pharmaceuticals Stock Performance

Shares of AVDL stock opened at $8.03 on Friday. The company has a market capitalization of $480.14 million, a P/E ratio of -3.60 and a beta of 1.52. Avadel Pharmaceuticals has a fifty-two week low of $1.05 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day moving average price of $6.05 and a two-hundred day moving average price of $4.95.

Institutional Trading of Avadel Pharmaceuticals

Several large investors have recently bought and sold shares of AVDL. Iridian Asset Management LLC CT purchased a new position in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $73,000. National Asset Management Inc. purchased a new stake in shares of Avadel Pharmaceuticals in the 1st quarter worth about $103,000. Edge Wealth Management LLC increased its stake in shares of Avadel Pharmaceuticals by 7.6% in the 2nd quarter. Edge Wealth Management LLC now owns 156,000 shares of the company’s stock worth $381,000 after acquiring an additional 11,000 shares in the last quarter. International Biotechnology Trust PLC bought a new position in shares of Avadel Pharmaceuticals in the 1st quarter worth about $7,647,000. Finally, Carmichael Hill & Associates Inc. lifted its position in Avadel Pharmaceuticals by 133.3% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,000 shares of the company’s stock valued at $51,000 after acquiring an additional 12,000 shares during the period. 63.01% of the stock is owned by institutional investors.

About Avadel Pharmaceuticals

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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.

Further Reading

Earnings History and Estimates for Avadel Pharmaceuticals (NASDAQ:AVDL)

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