Avadel Pharmaceuticals plc (NASDAQ:AVDL) Forecasted to Earn Q2 2024 Earnings of ($0.15) Per Share

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Analysts at HC Wainwright issued their Q2 2024 earnings per share estimates for shares of Avadel Pharmaceuticals in a note issued to investors on Monday, November 13th. HC Wainwright analyst O. Livnat forecasts that the company will post earnings of ($0.15) per share for the quarter. HC Wainwright has a “Buy” rating and a $21.00 price objective on the stock. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($1.83) per share. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q3 2024 earnings at ($0.04) EPS, FY2025 earnings at $0.74 EPS and FY2026 earnings at $1.37 EPS.

Avadel Pharmaceuticals (NASDAQ:AVDL) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $5.12 million. The business’s revenue was up 3400.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.33) EPS.

A number of other equities analysts also recently commented on the company. Piper Sandler lifted their target price on Avadel Pharmaceuticals from $13.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Needham & Company LLC lifted their price objective on shares of Avadel Pharmaceuticals from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.29.

Avadel Pharmaceuticals Stock Up 3.9 %

AVDL stock opened at $11.16 on Tuesday. Avadel Pharmaceuticals has a 52 week low of $5.92 and a 52 week high of $16.85. The company has a market cap of $997.37 million, a price-to-earnings ratio of -5.17 and a beta of 1.53. The business has a fifty day simple moving average of $11.00 and a 200-day simple moving average of $13.09.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AVDL. Rockefeller Capital Management L.P. raised its position in shares of Avadel Pharmaceuticals by 658.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,794 shares of the company’s stock valued at $26,000 after buying an additional 3,294 shares during the last quarter. Creative Planning lifted its holdings in Avadel Pharmaceuticals by 15.2% in the second quarter. Creative Planning now owns 15,787 shares of the company’s stock valued at $39,000 after buying an additional 2,083 shares during the period. UBS Group AG lifted its holdings in Avadel Pharmaceuticals by 300.6% in the third quarter. UBS Group AG now owns 11,955 shares of the company’s stock valued at $60,000 after buying an additional 8,971 shares during the period. Tower Research Capital LLC TRC raised its holdings in Avadel Pharmaceuticals by 236.6% in the third quarter. Tower Research Capital LLC TRC now owns 14,364 shares of the company’s stock worth $72,000 after purchasing an additional 10,097 shares during the period. Finally, LPL Financial LLC raised its holdings in Avadel Pharmaceuticals by 40.5% in the second quarter. LPL Financial LLC now owns 30,850 shares of the company’s stock worth $75,000 after purchasing an additional 8,900 shares during the period. Institutional investors and hedge funds own 71.23% of the company’s stock.

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.