Avadel Pharmaceuticals (NASDAQ:AVDL) Issues Quarterly Earnings Results

Key Points

• Avadel Pharmaceuticals reported a Q3 EPS of $0.10, significantly exceeding the consensus estimate of $0.02, and its revenue increased by 64.1% year-over-year to $68.13 million.
• Analysts have raised their price targets for AVDL shares, with HC Wainwright increasing their target from $22.00 to $24.00 and Needham setting a target at $19.00, reflecting strong investment sentiment.
• Institutional investors now hold 69.19% of Avadel Pharmaceuticals stock, with some hedge funds increasing their stakes, indicating growing interest in the company.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08, Zacks reports. Avadel Pharmaceuticals had a negative net margin of 1.32% and a negative return on equity of 3.94%. The company had revenue of $68.13 million during the quarter, compared to analysts' expectations of $60.28 million. During the same quarter last year, the company posted ($0.14) EPS. The firm's revenue was up 64.1% compared to the same quarter last year. Avadel Pharmaceuticals updated its FY 2025 guidance to EPS.

Avadel Pharmaceuticals Trading Up 0.1%

Shares of NASDAQ AVDL traded up $0.01 during midday trading on Friday, reaching $12.75. 1,540,103 shares of the company were exchanged, compared to its average volume of 1,161,444. Avadel Pharmaceuticals has a 1 year low of $6.38 and a 1 year high of $16.84. The stock has a fifty day simple moving average of $10.05 and a 200 day simple moving average of $8.89. The stock has a market cap of $1.23 billion, a P/E ratio of -425.00 and a beta of 1.47.

Analysts Set New Price Targets

Several equities analysts have commented on AVDL shares. HC Wainwright raised their price target on shares of Avadel Pharmaceuticals from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $19.00 price target on shares of Avadel Pharmaceuticals in a research report on Thursday, May 8th. Finally, Wall Street Zen raised shares of Avadel Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $18.67.

Hedge Funds Weigh In On Avadel Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Avadel Pharmaceuticals by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,885 shares of the company's stock worth $430,000 after purchasing an additional 2,291 shares during the last quarter. Creative Planning increased its stake in Avadel Pharmaceuticals by 10.0% in the 2nd quarter. Creative Planning now owns 19,376 shares of the company's stock valued at $171,000 after buying an additional 1,759 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Avadel Pharmaceuticals during the 1st quarter worth $115,000. Hedge funds and other institutional investors own 69.19% 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.

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