Avadel Pharmaceuticals (NASDAQ:AVDL - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.05), Briefing.com reports. The firm had revenue of $27.18 million during the quarter, compared to the consensus estimate of $25.89 million. Avadel Pharmaceuticals's revenue for the quarter was up 2617.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) EPS.
Avadel Pharmaceuticals Stock Down 2.6 %
Shares of AVDL traded down $0.42 during mid-day trading on Thursday, hitting $15.83. The stock had a trading volume of 2,487,421 shares, compared to its average volume of 1,231,947. The company has a market cap of $1.43 billion, a PE ratio of -7.82 and a beta of 1.61. The company's fifty day simple moving average is $16.69 and its two-hundred day simple moving average is $14.38. Avadel Pharmaceuticals has a fifty-two week low of $9.50 and a fifty-two week high of $19.09.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. UBS Group began coverage on Avadel Pharmaceuticals in a report on Tuesday, February 6th. They issued a "buy" rating and a $21.00 price objective on the stock. Craig Hallum raised their target price on Avadel Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday. HC Wainwright raised their target price on Avadel Pharmaceuticals from $25.00 to $27.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer raised their target price on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an "outperform" rating in a report on Tuesday, March 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $24.17.
Get Our Latest Stock Analysis on AVDL
About Avadel Pharmaceuticals
(
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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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