Avadel Pharmaceuticals (NASDAQ:AVDL) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Posted by Scott Moore on Nov 13th, 2024

Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) announced 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. Avadel Pharmaceuticals had a negative return on equity of 122.64% and a negative net margin of 111.64%. The company had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. The firm’s revenue for the quarter was up 624.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.41) EPS.

Avadel Pharmaceuticals Stock Performance

NASDAQ:AVDL traded down $0.54 during trading hours on Wednesday, reaching $12.61. The stock had a trading volume of 160,116 shares, compared to its average volume of 1,162,171. The stock has a 50 day simple moving average of $13.67 and a 200 day simple moving average of $15.12. Avadel Pharmaceuticals has a 12-month low of $10.39 and a 12-month high of $19.09. The stock has a market cap of $1.21 billion, a P/E ratio of -10.78 and a beta of 1.47.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVDL. Oppenheimer increased their price target on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday. Finally, HC Wainwright cut 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. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Avadel Pharmaceuticals presently has an average rating of “Buy” and an average target price of $24.43.

Read Our Latest Analysis on Avadel Pharmaceuticals

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.