Avadel Pharmaceuticals PLC (NASDAQ:AVDL) – Equities research analysts at SunTrust Banks lowered their FY2018 earnings per share (EPS) estimates for shares of Avadel Pharmaceuticals in a research note issued to investors on Monday, November 5th. SunTrust Banks analyst J. Boris now anticipates that the company will post earnings of ($2.00) per share for the year, down from their prior estimate of ($1.88). SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Avadel Pharmaceuticals’ Q4 2018 earnings at ($0.47) EPS, FY2019 earnings at ($1.05) EPS, FY2020 earnings at ($0.51) EPS, FY2021 earnings at ($0.05) EPS and FY2022 earnings at $0.57 EPS.
Avadel Pharmaceuticals (NASDAQ:AVDL) last announced its earnings results on Monday, November 5th. The company reported ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.53) by $0.10. The firm had revenue of $19.83 million for the quarter, compared to the consensus estimate of $20.11 million. Avadel Pharmaceuticals had a negative return on equity of 86.08% and a negative net margin of 34.91%.
Several other brokerages also recently commented on AVDL. ValuEngine raised Avadel Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Zacks Investment Research lowered Avadel Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. JMP Securities lowered Avadel Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 7th. Laidlaw lowered Avadel Pharmaceuticals from a “buy” rating to a “hold” rating and set a $6.00 price objective for the company. in a research report on Tuesday. Finally, LADENBURG THALM/SH SH set a $10.00 price objective on Avadel Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $8.31.
Shares of AVDL opened at $3.59 on Thursday. The stock has a market cap of $109.92 million, a price-to-earnings ratio of 11.58 and a beta of 1.75. Avadel Pharmaceuticals has a 12 month low of $2.80 and a 12 month high of $11.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.28 and a current ratio of 3.15.
Several hedge funds have recently bought and sold shares of AVDL. Investors Asset Management of Georgia Inc. GA ADV bought a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth about $144,000. Quantitative Systematic Strategies LLC raised its position in shares of Avadel Pharmaceuticals by 100.3% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 25,281 shares of the company’s stock worth $155,000 after acquiring an additional 12,661 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Avadel Pharmaceuticals by 21.9% in the 3rd quarter. Alps Advisors Inc. now owns 70,933 shares of the company’s stock worth $311,000 after acquiring an additional 12,762 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Avadel Pharmaceuticals in the 2nd quarter worth about $478,000. Finally, California Public Employees Retirement System raised its position in shares of Avadel Pharmaceuticals by 10.8% in the 1st quarter. California Public Employees Retirement System now owns 93,638 shares of the company’s stock worth $683,000 after acquiring an additional 9,138 shares in the last quarter. 54.53% of the stock is owned by hedge funds and other institutional investors.
About Avadel Pharmaceuticals
Avadel Pharmaceuticals plc develops and commercializes pharmaceutical products primarily for treating urology and sleep medicines in the United States, France, and Ireland. Its commercial products that are used in the hospital setting include Bloxiverz, a drug used in the operating room for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; Vazculep, a phenylephrine hydrochloride injection that is used for the treatment of hypotension occurring in the setting of anesthesia; and Akovaz, an ephedrine sulfate injection for treating hypotension, as well as Noctiva for treating nocturia due to nocturnal polyuria.
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