Avadel Pharmaceuticals (NASDAQ:AVDL) Issues Earnings Results, Beats Estimates By $0.03 EPS

Avadel Pharmaceuticals (NASDAQ:AVDL) posted its earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03, Briefing.com reports. Avadel Pharmaceuticals had a negative net margin of 52.53% and a negative return on equity of 92.12%. The business had revenue of $50.00 million for the quarter, compared to the consensus estimate of $48.43 million. During the same period last year, the company earned ($0.41) EPS. The firm’s revenue was up 624.6% compared to the same quarter last year.

Avadel Pharmaceuticals Price Performance

NASDAQ AVDL opened at $12.02 on Thursday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -15.21 and a beta of 1.47. The business has a 50 day simple moving average of $13.62 and a 200 day simple moving average of $15.09. Avadel Pharmaceuticals has a one year low of $10.39 and a one year high of $19.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AVDL shares. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price target on shares of Avadel Pharmaceuticals in a report on Tuesday. HC Wainwright decreased their price target on Avadel Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Oppenheimer upped their target price on Avadel Pharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.43.

About Avadel Pharmaceuticals

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.