Avadel Pharmaceuticals (NASDAQ:AVDL) Announces Earnings Results

Avadel Pharmaceuticals (NASDAQ:AVDL) released its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.03, Briefing.com reports. The firm had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 92.12%. The business’s quarterly revenue was up 624.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.41) EPS.

Avadel Pharmaceuticals Stock Down 3.6 %

AVDL stock traded down $0.43 during midday trading on Thursday, hitting $11.59. The company’s stock had a trading volume of 2,349,258 shares, compared to its average volume of 1,187,195. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -14.67 and a beta of 1.47. The stock’s 50-day moving average price is $13.62 and its 200 day moving average price is $15.09. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AVDL shares. Oppenheimer upped their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. HC Wainwright lowered their price target on shares of Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.43.

About Avadel Pharmaceuticals

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.