Leerink Partnrs Weighs in on Avadel Pharmaceuticals plc's Q4 2024 Earnings (NASDAQ:AVDL)

Avadel Pharmaceuticals plc (NASDAQ:AVDL - Free Report) - Research analysts at Leerink Partnrs lowered their Q4 2024 earnings estimates for Avadel Pharmaceuticals in a research report issued to clients and investors on Wednesday, May 8th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings per share of $0.07 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.

Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). The business had revenue of $27.18 million for the quarter, compared to analysts' expectations of $25.89 million. During the same period last year, the firm posted ($0.48) EPS. The business's revenue was up 2617.8% on a year-over-year basis.

Several other brokerages have also commented on AVDL. Piper Sandler lifted their price objective on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. Craig Hallum upped their price objective on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday. Oppenheimer boosted their target price on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. UBS Group began coverage on shares of Avadel Pharmaceuticals in a research report on Tuesday, February 6th. They set a "buy" rating and a $21.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Wednesday. Six 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 NASDAQ:AVDL traded up $0.69 during trading on Friday, reaching $16.52. 1,766,658 shares of the stock were exchanged, compared to its average volume of 1,240,536. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -8.10 and a beta of 1.61. Avadel Pharmaceuticals has a 1-year low of $9.50 and a 1-year high of $19.09. The stock has a fifty day moving average of $16.75 and a two-hundred day moving average of $14.39.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Brandes Investment Partners LP grew its holdings in shares of Avadel Pharmaceuticals by 12.4% during the 3rd quarter. Brandes Investment Partners LP now owns 1,448,772 shares of the company's stock worth $14,922,000 after acquiring an additional 159,577 shares during the period. MPM Bioimpact LLC grew its position in shares of Avadel Pharmaceuticals by 72.5% in the 3rd quarter. MPM Bioimpact LLC now owns 664,224 shares of the company's stock worth $6,842,000 after buying an additional 279,234 shares during the period. Vivo Capital LLC lifted its position in Avadel Pharmaceuticals by 7.0% during the 3rd quarter. Vivo Capital LLC now owns 4,096,428 shares of the company's stock valued at $42,193,000 after acquiring an additional 266,851 shares during the period. Deutsche Bank AG grew its holdings in Avadel Pharmaceuticals by 95.6% in the third quarter. Deutsche Bank AG now owns 440,000 shares of the company's stock worth $4,532,000 after purchasing an additional 215,000 shares during the period. Finally, RTW Investments LP grew its stake in shares of Avadel Pharmaceuticals by 4.8% in the 3rd quarter. RTW Investments LP now owns 7,136,415 shares of the company's stock worth $73,505,000 after buying an additional 325,774 shares during the last quarter. 69.19% of the stock is owned by institutional investors.

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.