Oppenheimer Weighs in on Avadel Pharmaceuticals plc’s Q2 2023 Earnings (NASDAQ:AVDL)

Avadel Pharmaceuticals plc (NASDAQ:AVDLGet Rating) – Oppenheimer boosted their Q2 2023 earnings per share (EPS) estimates for Avadel Pharmaceuticals in a note issued to investors on Monday, November 21st. Oppenheimer analyst F. Brisebois now forecasts that the company will post earnings of ($0.19) per share for the quarter, up from their prior forecast of ($0.23). The consensus estimate for Avadel Pharmaceuticals’ current full-year earnings is ($1.99) per share. Oppenheimer also issued estimates for Avadel Pharmaceuticals’ Q3 2023 earnings at ($0.11) EPS, Q4 2023 earnings at ($0.02) EPS and FY2023 earnings at ($0.58) EPS.

Several other equities analysts have also issued reports on the company. SVB Leerink boosted their price target on Avadel Pharmaceuticals from $6.00 to $12.00 and gave the company an “outperform” rating in a research note on Thursday, August 11th. Jefferies Financial Group downgraded shares of Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their price target for the company from $6.00 to $8.00 in a research note on Wednesday, August 10th. Needham & Company LLC increased their price objective on shares of Avadel Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Craig Hallum reduced their target price on Avadel Pharmaceuticals from $15.50 to $12.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.29.

Avadel Pharmaceuticals Stock Down 2.1 %

Shares of NASDAQ AVDL opened at $7.81 on Wednesday. The firm has a market cap of $466.96 million, a PE ratio of -3.50 and a beta of 1.52. Avadel Pharmaceuticals has a 1 year low of $1.05 and a 1 year high of $10.00. The company has a 50 day simple moving average of $6.20 and a 200 day simple moving average of $5.05. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.73 and a quick ratio of 2.73.

Hedge Funds Weigh In On Avadel Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in AVDL. B. Riley Wealth Management Inc. purchased a new stake in Avadel Pharmaceuticals in the 2nd quarter worth about $32,000. Quantbot Technologies LP purchased a new stake in shares of Avadel Pharmaceuticals during the 3rd quarter valued at approximately $34,000. Creative Planning boosted its holdings in Avadel Pharmaceuticals by 15.2% in the 2nd quarter. Creative Planning now owns 15,787 shares of the company’s stock worth $39,000 after buying an additional 2,083 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Avadel Pharmaceuticals during the third quarter worth $50,000. Finally, Carmichael Hill & Associates Inc. boosted its holdings in shares of Avadel Pharmaceuticals by 133.3% in the second quarter. Carmichael Hill & Associates Inc. now owns 21,000 shares of the company’s stock worth $51,000 after acquiring an additional 12,000 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Avadel Pharmaceuticals Company Profile

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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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