Lifesci Capital Brokers Reduce Earnings Estimates for AVDL

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Equities research analysts at Lifesci Capital cut their FY2024 EPS estimates for shares of Avadel Pharmaceuticals in a report released on Thursday, January 9th. Lifesci Capital analyst M. Belghiti now forecasts that the company will post earnings of ($0.46) per share for the year, down from their previous estimate of ($0.38). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.48) per share. Lifesci Capital also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.05) EPS.

A number of other research analysts also recently issued reports on AVDL. Needham & Company LLC decreased their price target on shares of Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, January 9th. Oppenheimer boosted their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and issued a $21.00 price target (down from $25.00) on shares of Avadel Pharmaceuticals in a research note on Friday. Piper Sandler lowered their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday. Finally, UBS Group cut their price objective on shares of Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating on the stock in a report on Monday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Avadel Pharmaceuticals presently has an average rating of “Buy” and an average price target of $21.00.

Avadel Pharmaceuticals Trading Down 1.0 %

Shares of NASDAQ AVDL opened at $7.82 on Monday. The stock has a market cap of $753.55 million, a P/E ratio of -9.90 and a beta of 1.31. The business’s fifty day simple moving average is $11.27 and its 200-day simple moving average is $13.49. Avadel Pharmaceuticals has a 12-month low of $7.39 and a 12-month high of $19.09.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. Avadel Pharmaceuticals had a negative return on equity of 93.34% and a negative net margin of 52.53%. The company had revenue of $50.00 million for the quarter, compared to analysts’ expectations of $48.43 million. During the same period in the prior year, the firm earned ($0.41) earnings per share. The firm’s revenue was up 624.6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Braidwell LP grew its stake in shares of Avadel Pharmaceuticals by 16.9% during the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock worth $44,446,000 after purchasing an additional 490,300 shares during the period. State Street Corp grew its position in Avadel Pharmaceuticals by 42.5% during the third quarter. State Street Corp now owns 1,623,302 shares of the company’s stock worth $21,290,000 after buying an additional 483,787 shares during the period. Brandes Investment Partners LP increased its holdings in Avadel Pharmaceuticals by 1.5% in the second quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock valued at $20,894,000 after buying an additional 21,214 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Avadel Pharmaceuticals by 23.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 489,073 shares of the company’s stock valued at $6,414,000 after acquiring an additional 94,239 shares during the period. Finally, Barclays PLC boosted its stake in shares of Avadel Pharmaceuticals by 45.8% during the 3rd quarter. Barclays PLC now owns 392,691 shares of the company’s stock worth $5,150,000 after acquiring an additional 123,430 shares in the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avadel Pharmaceuticals

In related news, Director Linda Palczuk purchased 3,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $10.19 per share, for a total transaction of $30,570.00. Following the completion of the purchase, the director now directly owns 66,400 shares of the company’s stock, valued at $676,616. This trade represents a 4.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas S. Mchugh purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $10.49 per share, with a total value of $52,450.00. Following the completion of the acquisition, the chief financial officer now owns 85,500 shares of the company’s stock, valued at approximately $896,895. This trade represents a 6.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 40,579 shares of company stock worth $406,313. 4.80% of the stock is owned by company insiders.

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.