Avadel Pharmaceuticals (NASDAQ:AVDL) – Equities researchers at SunTrust Banks upped their FY2017 EPS estimates for shares of Avadel Pharmaceuticals in a note issued to investors on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst J. Boris now expects that the company will post earnings per share of $0.32 for the year, up from their prior forecast of $0.30. SunTrust Banks also issued estimates for Avadel Pharmaceuticals’ Q4 2017 earnings at ($0.23) EPS, FY2018 earnings at ($1.00) EPS, FY2019 earnings at $0.00 EPS, FY2020 earnings at $0.65 EPS and FY2021 earnings at $1.39 EPS.
A number of other brokerages have also recently issued reports on AVDL. BidaskClub raised shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 2nd. ValuEngine cut shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, March 9th. Ladenburg Thalmann Financial Services lowered their price target on shares of Avadel Pharmaceuticals to $24.00 and set a “buy” rating for the company in a research report on Friday, March 9th. Finally, Zacks Investment Research raised shares of Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
NASDAQ AVDL traded down $0.12 during trading hours on Friday, reaching $7.17. 760,811 shares of the company’s stock traded hands, compared to its average volume of 483,029. Avadel Pharmaceuticals has a 52-week low of $6.71 and a 52-week high of $11.93. The stock has a market cap of $292.21, a P/E ratio of 23.13 and a beta of 1.55.
Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Thursday, March 8th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The company had revenue of $34.20 million for the quarter, compared to the consensus estimate of $34.16 million. Avadel Pharmaceuticals had a net margin of 38.64% and a return on equity of 15.40%. The firm’s revenue for the quarter was down 20.6% on a year-over-year basis.
Avadel Pharmaceuticals declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 27th that permits the company to repurchase $7.00 million in shares. This repurchase authorization permits the company to purchase up to 2.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of AVDL. State Street Corp raised its holdings in Avadel Pharmaceuticals by 1.7% in the second quarter. State Street Corp now owns 31,782 shares of the company’s stock worth $351,000 after buying an additional 523 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Avadel Pharmaceuticals by 37.2% in the second quarter. Public Employees Retirement System of Ohio now owns 57,690 shares of the company’s stock worth $636,000 after buying an additional 15,657 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in Avadel Pharmaceuticals by 32.7% in the third quarter. State of Tennessee Treasury Department now owns 23,291 shares of the company’s stock worth $245,000 after buying an additional 5,736 shares during the last quarter. Boston Partners purchased a new position in Avadel Pharmaceuticals in the third quarter worth about $1,868,000. Finally, Ameriprise Financial Inc. raised its holdings in Avadel Pharmaceuticals by 9.4% in the third quarter. Ameriprise Financial Inc. now owns 204,168 shares of the company’s stock worth $2,143,000 after buying an additional 17,551 shares during the last quarter. 65.76% of the stock is owned by institutional investors and hedge funds.
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Avadel Pharmaceuticals Company Profile
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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