HC Wainwright Issues Pessimistic Forecast for AVDL Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) - Analysts at HC Wainwright lowered their FY2024 earnings estimates for shares of Avadel Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst O. Livnat now anticipates that the company will earn ($0.54) per share for the year, down from their previous forecast of ($0.42). HC Wainwright currently has a "Buy" rating and a $25.00 target price on the stock. The consensus estimate for Avadel Pharmaceuticals' current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Avadel Pharmaceuticals' Q4 2024 earnings at ($0.08) EPS, FY2025 earnings at $0.41 EPS and FY2026 earnings at $1.27 EPS.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.03) earnings per share 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 business had revenue of $50.00 million for the quarter, compared to analysts' expectations of $48.43 million. During the same period in the previous year, the firm posted ($0.41) EPS. The business's revenue for the quarter was up 624.6% compared to the same quarter last year.

AVDL has been the topic of a number of other reports. Needham & Company LLC restated a "buy" rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday. Oppenheimer raised their price target on 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, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $24.43.

Avadel Pharmaceuticals Price Performance

Shares of NASDAQ:AVDL traded down $0.68 during mid-day trading on Friday, reaching $10.91. 2,076,277 shares of the company were exchanged, compared to its average volume of 1,191,200. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09. The firm's 50-day simple moving average is $13.49 and its 200 day simple moving average is $15.02. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -13.81 and a beta of 1.47.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Barclays PLC lifted its position in Avadel Pharmaceuticals by 45.8% in the 3rd quarter. Barclays PLC now owns 392,691 shares of the company's stock valued at $5,150,000 after purchasing an additional 123,430 shares during the last quarter. MML Investors Services LLC raised its position in shares of Avadel Pharmaceuticals by 13.8% during the third quarter. MML Investors Services LLC now owns 136,356 shares of the company's stock worth $1,788,000 after purchasing an additional 16,500 shares during the period. Dorsey Wright & Associates boosted its holdings in shares of Avadel Pharmaceuticals by 12.9% in the third quarter. Dorsey Wright & Associates now owns 142,120 shares of the company's stock worth $1,864,000 after buying an additional 16,215 shares during the period. XTX Topco Ltd purchased a new stake in shares of Avadel Pharmaceuticals in the third quarter valued at $642,000. Finally, Wellington Management Group LLP acquired a new stake in Avadel Pharmaceuticals during the 3rd quarter worth about $633,000. Institutional investors and hedge funds own 69.19% 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.