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

Avadel Pharmaceuticals plc (NASDAQ:AVDL) – Investment analysts at HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a report issued on Wednesday, November 13th. HC Wainwright analyst O. Livnat now expects that the company will earn ($0.54) per share for the year, down from their previous forecast of ($0.42). HC Wainwright currently has a “Buy” rating and a $25.00 target price 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.

AVDL has been the subject of several other research reports. Oppenheimer boosted their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Avadel Pharmaceuticals in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $24.43.

Avadel Pharmaceuticals Trading Down 3.6 %

AVDL opened at $11.59 on Friday. Avadel Pharmaceuticals has a 1-year low of $10.39 and a 1-year high of $19.09. The firm’s 50 day simple moving average is $13.62 and its two-hundred day simple moving average is $15.09. The company has a market capitalization of $1.12 billion, a PE ratio of -14.67 and a beta of 1.47.

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

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Avadel Pharmaceuticals by 16.1% in the first quarter. Janus Henderson Group PLC now owns 12,915,160 shares of the company’s stock valued at $218,182,000 after purchasing an additional 1,789,830 shares in the last quarter. Braidwell LP lifted its holdings in shares of Avadel Pharmaceuticals by 16.9% in the 3rd quarter. Braidwell LP now owns 3,388,939 shares of the company’s stock valued at $44,446,000 after acquiring an additional 490,300 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Avadel Pharmaceuticals during the second quarter worth approximately $4,921,000. Bank of New York Mellon Corp purchased a new stake in Avadel Pharmaceuticals during the second quarter valued at approximately $4,575,000. Finally, StemPoint Capital LP bought a new stake in shares of Avadel Pharmaceuticals in the 1st quarter valued at approximately $3,778,000. 69.19% of the stock is owned by institutional investors.

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.