Lifesci Capital Has Negative Outlook of AVDL FY2024 Earnings

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Investment analysts at Lifesci Capital decreased their FY2024 earnings estimates for Avadel Pharmaceuticals in a report issued on Thursday, January 9th. Lifesci Capital analyst M. Belghiti now expects that the company will earn ($0.46) per share for the year, down from their prior 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.

Several other research firms also recently weighed in on AVDL. UBS Group decreased their price objective on Avadel Pharmaceuticals from $22.00 to $14.00 and set a “buy” rating for the company in a report on Monday. Needham & Company LLC decreased their price objective on Avadel Pharmaceuticals from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, January 9th. Oppenheimer increased their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Piper Sandler decreased their price objective on Avadel Pharmaceuticals from $24.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price objective (down from $25.00) on shares of Avadel Pharmaceuticals in a report on Friday, January 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $21.00.

Avadel Pharmaceuticals Stock Up 2.9 %

Shares of AVDL opened at $8.05 on Monday. The stock has a 50 day moving average price of $11.13 and a 200 day moving average price of $13.44. The company has a market capitalization of $775.71 million, a price-to-earnings ratio of -10.19 and a beta of 1.31. Avadel Pharmaceuticals has a 52-week low of $7.39 and a 52-week 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 analysts’ consensus estimates 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 company posted ($0.41) earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. FMR LLC purchased a new position in shares of Avadel Pharmaceuticals in the third quarter valued at $31,000. Amalgamated Bank acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at $45,000. Quarry LP acquired a new stake in shares of Avadel Pharmaceuticals during the second quarter valued at $63,000. Advisors Asset Management Inc. boosted its stake in shares of Avadel Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 7,921 shares of the company’s stock valued at $104,000 after acquiring an additional 2,846 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Avadel Pharmaceuticals during the third quarter valued at $160,000. Hedge funds and other institutional investors own 69.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Linda Palczuk purchased 3,000 shares of the company’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 transaction, the director now directly owns 66,400 shares in the company, valued at $676,616. This represents a 4.73 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory J. Divis purchased 9,598 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average price of $9.98 per share, with a total value of $95,788.04. Following the transaction, the chief executive officer now owns 9,598 shares of the company’s stock, valued at approximately $95,788.04. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 50,579 shares of company stock worth $486,713. 4.80% of the stock is owned by corporate 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.