Brokerages Expect Avadel Pharmaceuticals PLC. (AVDL) to Announce $0.01 Earnings Per Share
Brokerages forecast that Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) will report $0.01 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Avadel Pharmaceuticals PLC.’s earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at $0.12. Avadel Pharmaceuticals PLC. reported earnings of ($0.54) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 101.9%. The business is expected to issue its next earnings report on Monday, November 6th.
On average, analysts expect that Avadel Pharmaceuticals PLC. will report full year earnings of $1.18 per share for the current fiscal year, with EPS estimates ranging from $1.08 to $1.35. For the next year, analysts expect that the company will post earnings of $0.17 per share, with EPS estimates ranging from ($0.55) to $0.89. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Avadel Pharmaceuticals PLC..
Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.14. Avadel Pharmaceuticals PLC. had a net margin of 21.13% and a return on equity of 29.84%. The business had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $45.17 million. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis.
AVDL has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Avadel Pharmaceuticals PLC. from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Langenberg & Company reaffirmed a “buy” rating and set a $30.00 price target (up previously from $27.00) on shares of Avadel Pharmaceuticals PLC. in a report on Thursday, September 7th. Ladenburg Thalmann Financial Services raised their price target on shares of Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a report on Thursday, September 7th. Finally, Roth Capital set a $15.00 price target on shares of Avadel Pharmaceuticals PLC. and gave the company a “buy” rating in a report on Wednesday, August 9th.
In related news, Director Craig R. Stapleton purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were purchased at an average price of $9.52 per share, with a total value of $190,400.00. Following the acquisition, the director now directly owns 507,678 shares in the company, valued at approximately $4,833,094.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Phillandas T. Thompson purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were bought at an average cost of $9.36 per share, for a total transaction of $46,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 46,855 shares of company stock worth $445,058. Insiders own 5.07% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AVDL. PNC Financial Services Group Inc. boosted its holdings in shares of Avadel Pharmaceuticals PLC. by 2,484.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,956 shares of the company’s stock valued at $121,000 after acquiring an additional 10,532 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Avadel Pharmaceuticals PLC. during the 1st quarter valued at about $121,000. Sei Investments Co. boosted its holdings in shares of Avadel Pharmaceuticals PLC. by 29.5% during the 2nd quarter. Sei Investments Co. now owns 12,726 shares of the company’s stock valued at $140,000 after acquiring an additional 2,900 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Avadel Pharmaceuticals PLC. during the 2nd quarter valued at about $181,000. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Avadel Pharmaceuticals PLC. during the 2nd quarter valued at about $194,000. 69.09% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Avadel Pharmaceuticals PLC. (NASDAQ AVDL) traded down 4.23% during mid-day trading on Monday, reaching $10.63. 379,099 shares of the company’s stock traded hands. The stock has a market cap of $426.09 million, a price-to-earnings ratio of 11.55 and a beta of 1.47. Avadel Pharmaceuticals PLC. has a 12-month low of $8.14 and a 12-month high of $13.21. The firm’s 50 day moving average price is $9.56 and its 200-day moving average price is $9.83.
About Avadel Pharmaceuticals PLC.
Avadel Pharmaceuticals plc (NASDAQ: AVDL) is a specialty pharmaceutical company that seeks to commercialize differentiated pharmaceutical products that are safe, effective and easy to take through formulation development, by utilizing its proprietary drug delivery technology and in-licensing / acquiring new products; ultimately, helping patients adhere to their prescribed medical treatment and see better results.
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