Lifesci Capital Has Pessimistic View of AVDL FY2024 Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) - Equities researchers at Lifesci Capital cut their FY2024 earnings per share estimates for Avadel Pharmaceuticals in a report issued on Thursday, January 9th. Lifesci Capital analyst M. Belghiti now anticipates that the company will post earnings of ($0.46) per share for the year, down from their prior estimate of ($0.38). The consensus estimate for Avadel Pharmaceuticals' current full-year earnings is ($0.48) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals' Q4 2024 earnings at ($0.05) EPS.

A number of other analysts also recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday. Piper Sandler lowered their price target on shares of Avadel Pharmaceuticals from $24.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday. Oppenheimer raised their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Avadel Pharmaceuticals presently has an average rating of "Buy" and a consensus price target of $22.00.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL traded up $0.10 on Monday, hitting $8.00. 1,291,245 shares of the company's stock were exchanged, compared to its average volume of 2,289,454. The firm has a market cap of $770.90 million, a price-to-earnings ratio of -10.13 and a beta of 1.31. The firm's 50-day moving average price is $11.27 and its two-hundred day moving average price is $13.49. Avadel Pharmaceuticals has a fifty-two week low of $7.39 and a fifty-two week high of $19.09.

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. The company had revenue of $50.00 million during the quarter, compared to analysts' expectations of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The business's revenue was up 624.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.41) EPS.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Braidwell LP lifted its position in Avadel Pharmaceuticals by 16.9% during the third quarter. Braidwell LP now owns 3,388,939 shares of the company's stock worth $44,446,000 after buying an additional 490,300 shares during the period. State Street Corp boosted its position in shares of Avadel Pharmaceuticals by 42.5% in the third quarter. State Street Corp now owns 1,623,302 shares of the company's stock worth $21,290,000 after acquiring an additional 483,787 shares during the last quarter. Brandes Investment Partners LP grew its holdings in Avadel Pharmaceuticals by 1.5% in the second quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company's stock valued at $20,894,000 after purchasing an additional 21,214 shares during the period. Lord Abbett & CO. LLC increased its position in Avadel Pharmaceuticals by 23.9% during the third quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company's stock worth $6,414,000 after purchasing an additional 94,239 shares during the last quarter. Finally, Barclays PLC raised its stake in Avadel Pharmaceuticals by 45.8% during the third quarter. Barclays PLC now owns 392,691 shares of the company's stock worth $5,150,000 after purchasing an additional 123,430 shares during the period. Hedge funds and other institutional investors own 69.19% of the company's stock.

Insiders Place Their Bets

In other news, Director Geoffrey Michael Glass bought 20,279 shares of Avadel Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were bought at an average cost of $9.84 per share, for a total transaction of $199,545.36. Following the acquisition, the director now owns 75,904 shares in the company, valued at approximately $746,895.36. This trade represents a 36.46 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas S. Mchugh purchased 5,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were purchased at an average price of $10.49 per share, with a total value of $52,450.00. Following the completion of the acquisition, the chief financial officer now owns 85,500 shares of the company's stock, valued at approximately $896,895. This represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 40,579 shares of company stock worth $406,313. Insiders own 4.80% of the company's stock.

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.