Equities Analysts Offer Predictions for Avadel Pharmaceuticals plc’s Q2 2022 Earnings (NASDAQ:AVDL)

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) – Equities research analysts at Oppenheimer cut their Q2 2022 earnings estimates for shares of Avadel Pharmaceuticals in a note issued to investors on Monday, May 9th. Oppenheimer analyst F. Brisebois now expects that the company will earn ($0.39) per share for the quarter, down from their previous forecast of ($0.38). Oppenheimer also issued estimates for Avadel Pharmaceuticals’ Q3 2022 earnings at ($0.41) EPS, Q4 2022 earnings at ($0.44) EPS and FY2022 earnings at ($1.69) EPS.

AVDL has been the subject of a number of other reports. Zacks Investment Research raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Avadel Pharmaceuticals in a research note on Friday, March 18th. Finally, Craig Hallum dropped their price objective on Avadel Pharmaceuticals from $22.50 to $20.00 in a research note on Thursday, March 17th.

AVDL stock opened at $3.80 on Thursday. The business has a fifty day moving average of $6.27 and a two-hundred day moving average of $7.37. The company has a quick ratio of 9.17, a current ratio of 3.65 and a debt-to-equity ratio of 2.11. The stock has a market cap of $224.32 million, a price-to-earnings ratio of -2.30 and a beta of 1.13. Avadel Pharmaceuticals has a 52-week low of $3.49 and a 52-week high of $11.59.

Avadel Pharmaceuticals (NASDAQ:AVDLGet Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.02).

A number of large investors have recently added to or reduced their stakes in AVDL. Morgan Stanley boosted its holdings in Avadel Pharmaceuticals by 67.9% in the second quarter. Morgan Stanley now owns 376,265 shares of the company’s stock valued at $2,533,000 after purchasing an additional 152,186 shares during the period. Bank of America Corp DE boosted its holdings in Avadel Pharmaceuticals by 34.8% in the second quarter. Bank of America Corp DE now owns 55,838 shares of the company’s stock valued at $376,000 after purchasing an additional 14,425 shares during the period. Wells Fargo & Company MN boosted its holdings in Avadel Pharmaceuticals by 1.4% in the second quarter. Wells Fargo & Company MN now owns 214,950 shares of the company’s stock valued at $1,447,000 after purchasing an additional 2,950 shares during the period. BlackRock Inc. boosted its holdings in Avadel Pharmaceuticals by 21.7% in the third quarter. BlackRock Inc. now owns 29,915 shares of the company’s stock valued at $293,000 after purchasing an additional 5,337 shares during the period. Finally, Citigroup Inc. boosted its holdings in Avadel Pharmaceuticals by 599.3% in the third quarter. Citigroup Inc. now owns 24,762 shares of the company’s stock valued at $243,000 after purchasing an additional 21,221 shares during the period. Hedge funds and other institutional investors own 59.18% of the company’s stock.

Avadel Pharmaceuticals Company Profile (Get Rating)

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. Its lead product candidate is FT218, a formulation of sodium oxybate, which is in a Phase 3 clinical trial for the treatment of excessive daytime sleepiness and 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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