Adial Pharmaceuticals (NASDAQ:ADIL) Announces Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) announced its quarterly earnings data on Friday. The company reported ($1.48) EPS for the quarter, topping analysts’ consensus estimates of ($2.73) by $1.25, FiscalAI reports.

Adial Pharmaceuticals Stock Up 0.7%

Shares of ADIL stock traded up $0.01 during trading on Friday, reaching $1.43. The company had a trading volume of 87,022 shares, compared to its average volume of 100,143. The firm’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $4.75. Adial Pharmaceuticals has a one year low of $1.38 and a one year high of $18.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC bought a new position in shares of Adial Pharmaceuticals in the 4th quarter valued at approximately $562,000. Jane Street Group LLC raised its stake in shares of Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after acquiring an additional 109,500 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Adial Pharmaceuticals in the 3rd quarter worth approximately $51,000. 16.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADIL. UBS Group set a $8.00 price target on Adial Pharmaceuticals in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.75.

About Adial Pharmaceuticals

Adial Pharmaceuticals, Inc, incorporated in Delaware and founded in 2003, is a clinical-stage specialty pharmaceutical company dedicated to the development of treatments for addiction disorders and central nervous system conditions. The company’s mission centers on creating novel modalities designed to enhance patient adherence and clinical outcomes, particularly in areas of high unmet medical need. Adial leverages sustained-release delivery technologies to address the challenges associated with oral medication regimens in addiction therapy.

The company’s lead product candidate, AD04, is a bioerodible subcutaneous implant engineered to deliver naltrexone continuously over a multi-month period for individuals with alcohol dependence.