Leerink Partnrs Has Negative Outlook of AVDL FY2024 Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Equities researchers at Leerink Partnrs dropped their FY2024 EPS estimates for Avadel Pharmaceuticals in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings of ($0.53) per share for the year, down from their prior forecast of ($0.45). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. Leerink Partnrs also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.06) EPS and FY2027 earnings at $2.65 EPS.

Several other analysts also recently issued reports on the stock. Oppenheimer increased their price objective on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright dropped their price target on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.43.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ:AVDL opened at $11.59 on Friday. The business’s 50-day simple moving average is $13.62 and its 200 day simple moving average is $15.09. The company has a market cap of $1.12 billion, a P/E ratio of -14.67 and a beta of 1.47. Avadel Pharmaceuticals has a one year low of $10.39 and a one year high of $19.09.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of Avadel Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock valued at $218,182,000 after acquiring an additional 1,789,830 shares during the period. Gendell Jeffrey L boosted its stake in shares of Avadel Pharmaceuticals by 1.7% during the 1st quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock worth $96,410,000 after acquiring an additional 92,768 shares in the last quarter. Braidwell LP boosted 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 acquiring an additional 490,300 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Avadel Pharmaceuticals by 1.5% in the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock worth $20,894,000 after acquiring an additional 21,214 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its position in shares of Avadel Pharmaceuticals by 1.1% during the first quarter. Kennedy Capital Management LLC now owns 653,147 shares of the company’s stock worth $11,032,000 after purchasing an additional 7,273 shares during the period. 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.