Investing.com - Avadel Pharma reported on Monday second quarter earnings that missed analysts' forecasts and revenue that was inline with expectations.
Avadel Pharma announced earnings per share of $-0.33 on revenue of $0.00. Analysts polled by Investing.com anticipated EPS of $-0.3125 on revenue of $0.00.
Avadel Pharma shares are up 15.12% from the beginning of the year, still down 25.52% from its 52 week high of $10.32 set on March 15. They are broadly in line with the Nasdaq which is up 15.36% from the start of the year.
Avadel Pharma shares lost 2.66% in intra-day trade following the report.
Avadel Pharma follows other major Healthcare sector earnings this month
Avadel Pharma's report follows an earnings beat by J&J on July 21, who reported EPS of $2.48 on revenue of $23.31B, compared to forecasts EPS of $2.29 on revenue of $22.49B.
Eli Lilly had missed expectations on August 3 with second quarter EPS of $1.87 on revenue of $6.74B, compared to forecast for EPS of $1.89 on revenue of $6.6B.
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