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

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

Other equities research analysts have also issued reports about the company. Oppenheimer lifted their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat, Avadel Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $24.43.

Avadel Pharmaceuticals Stock Performance

Shares of NASDAQ:AVDL opened at $10.91 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of -13.81 and a beta of 1.47. The firm’s 50 day simple moving average is $13.49 and its 200-day simple moving average is $15.02. Avadel Pharmaceuticals has a one year low of $10.39 and a one year high of $19.09.

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

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of large investors have recently made changes to their positions in AVDL. FMR LLC acquired a new stake in shares of Avadel Pharmaceuticals in the 3rd quarter worth $31,000. Amalgamated Bank purchased a new stake in Avadel Pharmaceuticals in the second quarter valued at about $45,000. Quarry LP acquired a new stake in Avadel Pharmaceuticals in the second quarter worth about $63,000. BNP Paribas Financial Markets grew its stake in shares of Avadel Pharmaceuticals by 60.5% during the first quarter. BNP Paribas Financial Markets now owns 4,469 shares of the company’s stock worth $75,000 after acquiring an additional 1,685 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings 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 in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.

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.