Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Given Consensus Rating of “Hold” by Brokerages

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) has been given an average rating of “Hold” by the six research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $15.6250.

ADIL has been the topic of several recent research reports. Loop Capital set a $6.00 target price on shares of Adial Pharmaceuticals in a research report on Monday, June 15th. Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 11th. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Friday, July 17th. Finally, Alliance Global Partners initiated coverage on Adial Pharmaceuticals in a report on Monday. They issued a “buy” rating and a $11.00 target price for the company.

Insider Buying and Selling

In related news, major shareholder Coastlands Capital Lp purchased 10,053 shares of the stock in a transaction on Thursday, July 9th. The shares were purchased at an average cost of $2.79 per share, for a total transaction of $28,047.87. Following the completion of the transaction, the insider directly owned 383,375 shares of the company’s stock, valued at approximately $1,069,616.25. The trade was a 2.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 36,753 shares of company stock valued at $97,638. 1.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Adial Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ADIL. Jane Street Group LLC boosted 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 purchasing an additional 109,500 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Adial Pharmaceuticals in the 3rd quarter worth about $51,000. Finally, Armistice Capital LLC acquired a new stake in shares of Adial Pharmaceuticals during the 4th quarter worth about $562,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Adial Pharmaceuticals Price Performance

ADIL opened at $3.64 on Tuesday. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $11.47. The firm’s fifty day moving average price is $2.69 and its two-hundred day moving average price is $2.61. The company has a market capitalization of $7.79 million, a P/E ratio of -0.46 and a beta of 1.39.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.73) by $1.25.

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.