Leerink Partnrs Weighs in on Avadel Pharmaceuticals plc’s FY2024 Earnings (NASDAQ:AVDL)

Avadel Pharmaceuticals plc (NASDAQ:AVDLFree Report) – Investment analysts at Leerink Partnrs cut their FY2024 EPS estimates for shares of Avadel Pharmaceuticals in a report issued on Monday, January 29th. Leerink Partnrs analyst M. Goodman now anticipates that the company will post earnings of ($0.20) per share for the year, down from their previous estimate of ($0.10). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($1.84) per share.

Separately, Needham & Company LLC lifted their target price on shares of Avadel Pharmaceuticals from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.67.

Check Out Our Latest Report on Avadel Pharmaceuticals

Avadel Pharmaceuticals Trading Down 1.6 %

Shares of AVDL stock opened at $14.39 on Wednesday. Avadel Pharmaceuticals has a 1 year low of $7.12 and a 1 year high of $17.24. The firm’s fifty day moving average price is $13.97 and its two-hundred day moving average price is $12.74. The firm has a market capitalization of $1.29 billion, a P/E ratio of -6.66 and a beta of 1.54.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $5.12 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. The company’s revenue was up 3400.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd purchased a new stake in shares of Avadel Pharmaceuticals in the second quarter valued at about $13,524,000. Samsara BioCapital LLC increased its holdings in Avadel Pharmaceuticals by 113.7% during the first quarter. Samsara BioCapital LLC now owns 1,409,409 shares of the company’s stock worth $12,910,000 after buying an additional 750,000 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in Avadel Pharmaceuticals during the first quarter worth about $5,404,000. Bank of America Corp DE increased its holdings in Avadel Pharmaceuticals by 553.2% during the first quarter. Bank of America Corp DE now owns 692,226 shares of the company’s stock worth $6,341,000 after buying an additional 586,247 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new stake in Avadel Pharmaceuticals during the second quarter worth about $8,240,000. 71.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Avadel Pharmaceuticals

In other news, Director Mark Anthony Mccamish sold 75,000 shares of the stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the completion of the sale, the director now directly owns 67,025 shares in the company, valued at $973,873.25. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Thomas S. Mchugh bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were acquired at an average cost of $14.50 per share, with a total value of $29,000.00. Following the completion of the purchase, the chief financial officer now directly owns 80,500 shares in the company, valued at $1,167,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Anthony Mccamish sold 75,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $14.53, for a total transaction of $1,089,750.00. Following the transaction, the director now directly owns 67,025 shares in the company, valued at $973,873.25. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Avadel Pharmaceuticals Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Avadel Pharmaceuticals (NASDAQ:AVDL)

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