Q4 2024 EPS Estimates for Avadel Pharmaceuticals plc (NASDAQ:AVDL) Reduced by Leerink Partnrs

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Investment analysts at Leerink Partnrs decreased their Q4 2024 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a report issued on Wednesday, May 8th. Leerink Partnrs analyst M. Goodman now expects that the company will earn $0.07 per share for the quarter, down from their prior forecast of $0.15. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.46) per share.

A number of other research firms also recently commented on AVDL. Piper Sandler increased their price objective on Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. UBS Group initiated coverage on Avadel Pharmaceuticals in a research report on Tuesday, February 6th. They set a “buy” rating and a $21.00 target price for the company. Craig Hallum lifted their target price on shares of Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday. HC Wainwright upped their price target on shares of Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.17.

Avadel Pharmaceuticals Price Performance

Shares of AVDL stock opened at $15.83 on Friday. Avadel Pharmaceuticals has a fifty-two week low of $9.50 and a fifty-two week high of $19.09. The stock’s 50-day moving average is $16.75 and its two-hundred day moving average is $14.39. The firm has a market cap of $1.43 billion, a P/E ratio of -7.76 and a beta of 1.61.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The firm had revenue of $27.18 million for the quarter, compared to analyst estimates of $25.89 million. During the same quarter in the prior year, the company posted ($0.48) EPS. The firm’s quarterly revenue was up 2617.8% compared to the same quarter last year.

Institutional Trading of Avadel Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Chilton Capital Management LLC bought a new position in shares of Avadel Pharmaceuticals during the 1st quarter worth about $51,000. BNP Paribas Financial Markets increased its stake in Avadel Pharmaceuticals by 60.5% during the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock valued at $75,000 after acquiring an additional 1,685 shares during the period. Quantbot Technologies LP acquired a new position in Avadel Pharmaceuticals in the 3rd quarter valued at approximately $78,000. Quarry LP bought a new stake in shares of Avadel Pharmaceuticals in the 4th quarter worth approximately $120,000. Finally, Claro Advisors LLC acquired a new stake in shares of Avadel Pharmaceuticals during the 1st quarter worth approximately $172,000. 69.19% of the stock is owned by institutional investors.

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.