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

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

Avadel Pharmaceuticals Price Performance

AVDL opened at $12.02 on Thursday. Avadel Pharmaceuticals has a 1 year low of $10.39 and a 1 year high of $19.09. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -15.21 and a beta of 1.47. The firm’s fifty day moving average price is $13.62 and its two-hundred day moving average price is $15.09.

Wall Street Analyst Weigh In

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