What is HC Wainwright’s Estimate for AVDL FY2024 Earnings?

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Analysts at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for Avadel Pharmaceuticals in a research note issued on Wednesday, November 13th. HC Wainwright analyst O. Livnat now forecasts that the company will post earnings of ($0.54) per share for the year, down from their prior forecast of ($0.42). HC Wainwright currently has a “Buy” rating and a $25.00 price target on the stock. The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($0.50) per share. HC Wainwright also issued estimates for Avadel Pharmaceuticals’ Q4 2024 earnings at ($0.08) EPS, FY2025 earnings at $0.41 EPS and FY2026 earnings at $1.27 EPS.

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

Several other research analysts have also recently commented on the stock. Oppenheimer increased their target price on shares of Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, November 12th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $24.43.

Avadel Pharmaceuticals Stock Down 5.9 %

NASDAQ:AVDL opened at $10.91 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of -13.81 and a beta of 1.47. Avadel Pharmaceuticals has a twelve month low of $10.39 and a twelve month high of $19.09. The business has a 50 day moving average price of $13.49 and a two-hundred day moving average price of $15.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Avadel Pharmaceuticals by 16.1% in the 1st 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 increased its holdings in shares of Avadel Pharmaceuticals by 1.7% in the first quarter. Gendell Jeffrey L now owns 5,708,118 shares of the company’s stock valued at $96,410,000 after purchasing an additional 92,768 shares during the last quarter. Braidwell LP raised its position in shares of Avadel Pharmaceuticals by 16.9% in the third quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after purchasing an additional 490,300 shares during the period. State Street Corp lifted its stake in shares of Avadel Pharmaceuticals by 42.5% during the 3rd 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 last quarter. Finally, Brandes Investment Partners LP boosted its holdings in shares of Avadel Pharmaceuticals by 1.5% during the 2nd quarter. Brandes Investment Partners LP now owns 1,483,439 shares of the company’s stock worth $20,894,000 after buying an additional 21,214 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.