Avadel Pharmaceuticals (AVDL) to Release Earnings on Wednesday

Avadel Pharmaceuticals (NASDAQ:AVDL) is set to post its quarterly earnings results before the market opens on Wednesday, May 8th. Analysts expect Avadel Pharmaceuticals to post earnings of ($0.25) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Avadel Pharmaceuticals (NASDAQ:AVDL) last released its earnings results on Monday, March 4th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The business had revenue of $19.45 million for the quarter, compared to analysts’ expectations 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 Price Performance

AVDL stock traded up $0.08 during mid-day trading on Monday, hitting $18.90. The stock had a trading volume of 91,827 shares, compared to its average volume of 1,174,889. Avadel Pharmaceuticals has a 52 week low of $9.50 and a 52 week high of $19.09. The firm has a fifty day simple moving average of $16.41 and a 200 day simple moving average of $14.22.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Avadel Pharmaceuticals from $18.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Oppenheimer lifted their price objective on shares of Avadel Pharmaceuticals from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Craig Hallum lifted their price objective on shares of Avadel Pharmaceuticals from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. UBS Group initiated coverage on shares of Avadel Pharmaceuticals in a research note on Tuesday, February 6th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Avadel Pharmaceuticals in a research note on Tuesday, April 9th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.67.

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.