Avadel Pharmaceuticals (NASDAQ:AVDL) Issues Earnings Results

Avadel Pharmaceuticals (NASDAQ:AVDL) issued its quarterly earnings data on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05), Briefing.com reports. The company had revenue of $27.18 million for the quarter, compared to analysts’ expectations of $25.89 million. During the same period in the prior year, the company posted ($0.48) EPS. The business’s revenue for the quarter was up 2617.8% on a year-over-year basis.

Avadel Pharmaceuticals Price Performance

AVDL traded down $0.46 during trading on Thursday, hitting $15.79. 1,322,127 shares of the stock traded hands, compared to its average volume of 1,219,714. The business has a 50 day moving average price of $16.69 and a 200 day moving average price of $14.38. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -7.53 and a beta of 1.61. Avadel Pharmaceuticals has a twelve month low of $9.50 and a twelve month high of $19.09.

Analysts Set New Price Targets

A number of analysts have recently commented on AVDL shares. Craig Hallum boosted their price target on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler boosted their price target on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. HC Wainwright increased their price objective on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Oppenheimer upped their price target on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, UBS Group assumed coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 6th. They issued a “buy” rating and a $21.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $23.83.

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.