HomeMarket NewsSmall Caps Avadel Pharmaceuticals Sees Analysts Boost Forecasts Post Strong Q4 Performance

Avadel Pharmaceuticals Sees Analysts Boost Forecasts Post Strong Q4 Performance

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Avadel Pharmaceuticals plc AVDL revealed impressive fourth-quarter revenue figures and offered a corporate update on Monday.


The reported quarterly loss of 32 cents per share by Avadel Pharmaceuticals exceeded market expectations of 29 cents per share. The company recorded quarterly sales of $19.45 million, surpassing estimates of $18.11 million as per data from Benzinga Pro.


Greg Divis, the Chief Executive Officer of Avadel Pharmaceuticals, expressed optimism stating, β€œWe are carrying significant momentum into 2024 following the successful launch of LUMRYZ. We have established a strong foundation with patients, prescribers, and payers to advance our mission of transforming the lives of people living with narcolepsy.”


On Monday, Avadel Pharmaceuticals witnessed its shares climb by 17.6%, closing at $16.13.


Following the company’s quarterly results, analysts have adjusted their price targets on Avadel Pharmaceuticals.


  • Needham upped the price target for Avadel Pharmaceuticals from $20 to $22. Needham analyst Ami Fadia reiterated a Buy rating.
  • Piper Sandler increased the price target on Avadel Pharmaceuticals from $18 to $23. Piper Sandler analyst David Amsellem maintained an Overweight rating.
  • HC Wainwright & Co. raised the price target for Avadel Pharmaceuticals from $21 to $25. HC Wainwright & Co. analyst Oren Livnat upheld a Buy rating.
  • Oppenheimer raised the price target on Avadel Pharmaceuticals from $27 to $29. Oppenheimer analyst Francois Brisebois continued to rate it as Outperform.


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