Zacks: Brokerages Expect Avadel Pharmaceuticals plc (NASDAQ:AVDL) to Post -$0.31 Earnings Per Share

Equities analysts expect Avadel Pharmaceuticals plc (NASDAQ:AVDL) to post earnings per share (EPS) of ($0.31) for the current quarter, Zacks reports. Zero analysts have made estimates for Avadel Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.36) and the highest is ($0.26). Avadel Pharmaceuticals posted earnings per share of ($0.16) in the same quarter last year, which would indicate a negative year over year growth rate of 93.8%. The firm is scheduled to announce its next earnings report on Monday, August 9th.

On average, analysts expect that Avadel Pharmaceuticals will report full-year earnings of ($1.22) per share for the current year, with EPS estimates ranging from ($1.40) to ($0.75). For the next fiscal year, analysts forecast that the company will report earnings of ($0.40) per share, with EPS estimates ranging from ($1.53) to $1.23. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Avadel Pharmaceuticals.

Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Sunday, May 9th. The company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.09.

A number of research firms have recently commented on AVDL. Zacks Investment Research cut shares of Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. SVB Leerink restated a “buy” rating on shares of Avadel Pharmaceuticals in a report on Friday, July 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.75.

Shares of NASDAQ AVDL opened at $7.29 on Thursday. Avadel Pharmaceuticals has a fifty-two week low of $4.83 and a fifty-two week high of $10.32. The firm’s 50 day simple moving average is $7.44. The company has a market capitalization of $426.39 million, a P/E ratio of -56.08 and a beta of 1.31. The company has a quick ratio of 26.57, a current ratio of 26.57 and a debt-to-equity ratio of 1.04.

A number of hedge funds have recently modified their holdings of the stock. RTW Investments LP boosted its holdings in Avadel Pharmaceuticals by 6.6% in the first quarter. RTW Investments LP now owns 5,741,939 shares of the company’s stock worth $51,907,000 after purchasing an additional 354,426 shares during the last quarter. Cowen AND Company LLC raised its position in shares of Avadel Pharmaceuticals by 31.9% during the 1st quarter. Cowen AND Company LLC now owns 2,495,573 shares of the company’s stock valued at $22,560,000 after purchasing an additional 603,530 shares during the period. Acuta Capital Partners LLC raised its position in shares of Avadel Pharmaceuticals by 55.3% during the 1st quarter. Acuta Capital Partners LLC now owns 1,095,000 shares of the company’s stock valued at $9,899,000 after purchasing an additional 389,782 shares during the period. BlackRock Inc. bought a new stake in shares of Avadel Pharmaceuticals during the 4th quarter valued at $3,898,000. Finally, Frazier Management LLC bought a new stake in shares of Avadel Pharmaceuticals during the 1st quarter valued at $5,226,000. Institutional investors own 55.79% of the company’s stock.

Avadel Pharmaceuticals Company Profile

Avadel Pharmaceuticals plc operates as a biopharmaceutical company in the United States. The company's lead product candidate is FT218, a formulation of sodium oxybate which is in a Phase 3 clinical trial for the treatment excessive daytime sleepiness (EDS) and cataplexy in adults with narcolepsy.

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Earnings History and Estimates for Avadel Pharmaceuticals (NASDAQ:AVDL)

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