Investing.com - Avadel Pharma reported on Tuesday second quarter earnings that missed analysts' forecasts and revenue that was inline with expectations.
Avadel Pharma announced earnings per share of $-1.07 on revenue of $0.00. Analysts polled by Investing.com anticipated EPS of $-0.4225 on revenue of $0.00.
Avadel Pharma shares are down 13% from the beginning of the year, still down 39.34% from its 52 week high of $11.59 set on November 15, 2021. They are outperforming the Nasdaq which is down 20.24% from the start of the year.
Avadel Pharma shares gained 11.41% 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 UnitedHealth on July 15, who reported EPS of $5.57 on revenue of $80.33B, compared to forecasts EPS of $5.21 on revenue of $79.68B.
J&J had beat expectations on July 19 with second quarter EPS of $2.59 on revenue of $24.02B, compared to forecast for EPS of $2.54 on revenue of $23.77B.
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