Shares of Avadel Pharmaceuticals plc (AVDL) plummeted 29% in the pre-market session on Friday, following the company's disappointing revenue forecast for 2025. The biopharmaceutical company, which specializes in developing drugs for central nervous system disorders, released its 2025 revenue guidance late on Wednesday, projecting revenue in the range of $240 million to $260 million.
This outlook fell short of analysts' average estimate of $267.6 million, according to data from LSEG. The disappointing guidance has led several analysts to revise their price targets for the stock, with HC Wainwright and Piper Sandler lowering their targets to $21 and $13, respectively.
Analysts cited concerns over a slower-than-expected ramp-up in sales of Avadel's sleep disorder drug Lumryz as a key factor behind the muted 2025 guidance. The company's shares have already faced significant pressure over the past year, declining by around 32% leading up to Friday's pre-market slump.
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