Adial Pharmaceuticals (NASDAQ:ADIL) Announces Earnings Results, Misses Expectations By $0.60 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) posted its quarterly earnings results on Thursday. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.60), FiscalAI reports.

Adial Pharmaceuticals Price Performance

Shares of ADIL stock traded down $0.02 on Thursday, hitting $1.97. The company’s stock had a trading volume of 143,346 shares, compared to its average volume of 86,412. Adial Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $30.25. The firm’s fifty day moving average price is $4.45 and its 200-day moving average price is $7.09. The stock has a market capitalization of $2.19 million, a price-to-earnings ratio of -0.11 and a beta of 1.31.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Wednesday, January 21st. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.75.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals during the fourth quarter worth about $562,000. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals in the 3rd quarter valued at approximately $51,000. Finally, Jane Street Group LLC lifted its position 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 worth $27,000 after acquiring an additional 109,500 shares during the period. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Company Profile

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.