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

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) - Equities research analysts at Lifesci Capital upped their FY2024 EPS estimates for Avadel Pharmaceuticals in a research note issued on Tuesday, November 12th. Lifesci Capital analyst M. Belghiti now anticipates that the company will earn ($0.38) per share for the year, up from their prior 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.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The firm had revenue of $50.00 million during the quarter, compared to analysts' expectations of $48.43 million. During the same period in the previous year, the firm posted ($0.41) EPS. Avadel Pharmaceuticals's revenue for the quarter was up 624.6% on a year-over-year basis.

Several other research analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday. HC Wainwright cut their target price on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Oppenheimer raised their price target on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $24.43.

Avadel Pharmaceuticals Trading Down 5.9 %

Shares of AVDL traded down $0.68 during trading hours on Friday, reaching $10.91. The company had a trading volume of 2,076,277 shares, compared to its average volume of 1,191,200. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a 12-month low of $10.39 and a 12-month high of $19.09. The firm has a 50 day simple moving average of $13.49 and a 200-day simple moving average of $15.02.

Institutional Investors Weigh In On Avadel Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new stake in Avadel Pharmaceuticals during the 1st quarter valued at $3,264,000. Cetera Investment Advisers purchased a new position in shares of Avadel Pharmaceuticals during the 1st quarter valued at approximately $1,925,000. Bank of New York Mellon Corp bought a new stake in shares of Avadel Pharmaceuticals in the second quarter worth $4,575,000. Russell Investments Group Ltd. bought a new position in shares of Avadel Pharmaceuticals during the first quarter worth about $1,943,000. Finally, Troluce Capital Advisors LLC bought a new stake in shares of Avadel Pharmaceuticals in the 2nd quarter valued at approximately $2,109,000. 69.19% of the stock is currently owned by institutional investors and hedge funds.

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.