Avadel Pharmaceuticals (NASDAQ:AVDL) Issues Earnings Results, Beats Estimates By $0.03 EPS

Posted by Matthew Steigler on Nov 15th, 2024

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) posted 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 analysts’ expectations 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 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 Price Performance

AVDL stock opened at $11.59 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of -14.67 and a beta of 1.47. Avadel Pharmaceuticals has a 12 month low of $10.39 and a 12 month high of $19.09. The firm has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $15.09.

Analyst Ratings Changes

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

Read Our Latest Research Report on AVDL

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.