Avadel Pharmaceuticals PLC. (AVDL) Announces Quarterly Earnings Results

Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.14, MarketWatch Earnings reports. Avadel Pharmaceuticals PLC. had a return on equity of 29.84% and a net margin of 21.13%. The business had revenue of $46.30 million during the quarter, compared to analyst estimates of $45.17 million. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Avadel Pharmaceuticals PLC. updated its FY17 guidance to $0.30-0.45 EPS.

Shares of Avadel Pharmaceuticals PLC. (AVDL) traded up 4.09% during mid-day trading on Wednesday, hitting $11.19. 121,937 shares of the company were exchanged. Avadel Pharmaceuticals PLC. has a 52 week low of $8.14 and a 52 week high of $13.25. The company has a market capitalization of $448.54 million, a P/E ratio of 12.16 and a beta of 1.47. The company has a 50 day moving average of $9.30 and a 200 day moving average of $9.78.

In other Avadel Pharmaceuticals PLC. news, insider Greg J. Divis bought 10,600 shares of Avadel Pharmaceuticals PLC. stock in a transaction on Tuesday, September 12th. The stock was acquired at an average cost of $9.32 per share, with a total value of $98,792.00. Following the completion of the acquisition, the insider now owns 10,600 shares in the company, valued at $98,792. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig R. Stapleton bought 20,000 shares of Avadel Pharmaceuticals PLC. stock in a transaction on Tuesday, September 12th. The shares were acquired at an average cost of $9.52 per share, with a total value of $190,400.00. Following the completion of the acquisition, the director now owns 507,678 shares of the company’s stock, valued at approximately $4,833,094.56. The disclosure for this purchase can be found here. Insiders acquired 46,855 shares of company stock worth $445,058 over the last three months. Insiders own 5.07% of the company’s stock.

A hedge fund recently raised its stake in Avadel Pharmaceuticals PLC. stock. State Street Corp raised its holdings in shares of Avadel Pharmaceuticals PLC. (NASDAQ:AVDL) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,782 shares of the company’s stock after acquiring an additional 523 shares during the quarter. State Street Corp owned approximately 0.08% of Avadel Pharmaceuticals PLC. worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 69.09% of the company’s stock.

Several analysts have issued reports on the company. Roth Capital set a $15.00 target price on Avadel Pharmaceuticals PLC. and gave the company a “buy” rating in a research note on Wednesday, August 9th. Langenberg & Company reiterated a “buy” rating and set a $30.00 price target (up previously from $27.00) on shares of Avadel Pharmaceuticals PLC. in a research note on Thursday, September 7th. Ladenburg Thalmann Financial Services increased their price target on Avadel Pharmaceuticals PLC. from $27.00 to $30.00 in a research note on Thursday, September 7th. Finally, Zacks Investment Research raised Avadel Pharmaceuticals PLC. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Monday, July 17th.

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Avadel Pharmaceuticals PLC. Company Profile

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.

Earnings History for Avadel Pharmaceuticals PLC. (NASDAQ:AVDL)

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