Avadel Pharmaceuticals (AVDL) to Release Quarterly Earnings on Wednesday

Avadel Pharmaceuticals (NASDAQ:AVDL) will issue its quarterly earnings data before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.25) per share for the quarter.

Avadel Pharmaceuticals (NASDAQ:AVDL) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $19.45 million during the quarter, compared to analyst estimates of $17.41 million. During the same quarter in the prior year, the company posted ($0.44) earnings per share. On average, analysts expect Avadel Pharmaceuticals to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Avadel Pharmaceuticals Trading Down 2.7 %

Shares of NASDAQ:AVDL traded down $0.50 during midday trading on Thursday, reaching $17.81. The company had a trading volume of 65,350 shares, compared to its average volume of 1,181,993. The stock has a market cap of $1.61 billion, a P/E ratio of -8.98 and a beta of 1.61. The company’s 50 day moving average price is $16.17 and its 200 day moving average price is $14.12. Avadel Pharmaceuticals has a 52-week low of $9.50 and a 52-week high of $19.04.

Analyst Upgrades and Downgrades

AVDL has been the subject of several research analyst reports. UBS Group assumed coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 6th. They set a “buy” rating and a $21.00 price target for the company. Craig Hallum upped their price target on Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Oppenheimer lifted their price objective on Avadel Pharmaceuticals from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. HC Wainwright boosted their price objective on Avadel Pharmaceuticals from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday, April 9th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $22.57.

Avadel Pharmaceuticals Company Profile

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.