Avadel Pharmaceuticals (NASDAQ:AVDL – Get Free Report) issued its earnings results on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03, Briefing.com reports. The business had revenue of $50.00 million for the quarter, compared to analyst estimates of $48.43 million. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 93.34%. The company’s revenue for the quarter was up 624.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.41) EPS.
Avadel Pharmaceuticals Price Performance
NASDAQ:AVDL opened at $11.59 on Friday. Avadel Pharmaceuticals has a 12-month low of $10.39 and a 12-month high of $19.09. The business has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $15.09. The firm has a market capitalization of $1.12 billion, a P/E ratio of -14.67 and a beta of 1.47.
Analyst Upgrades and Downgrades
AVDL has been the topic of several research reports. HC Wainwright cut their price objective on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer raised their price objective on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.43.
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.
See Also
- Five stocks we like better than Avadel Pharmaceuticals
- The Most Important Warren Buffett Stock for Investors: His Own
- Freshworks Stock Soars 50% – Is This the Perfect Entry Point?
- How to Find Undervalued Stocks
- Why Meta Should Rally All The Way Into 2025
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- 3 High-Yields Unfazed by the Election: Altria, Truist, Verizon
Receive News & Ratings for Avadel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avadel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
