Adial Pharmaceuticals (NASDAQ:ADIL) Issues Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) issued its quarterly earnings data on Friday. The company reported ($11.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($10.22), FiscalAI reports.

Adial Pharmaceuticals Price Performance

Shares of ADIL traded down $0.41 during midday trading on Friday, hitting $3.98. The stock had a trading volume of 48,581 shares, compared to its average volume of 235,895. The stock’s 50 day moving average is $2.99 and its 200 day moving average is $2.53. The firm has a market cap of $10.47 million, a PE ratio of -0.50 and a beta of 1.39. Adial Pharmaceuticals has a 1 year low of $1.31 and a 1 year high of $10.75.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADIL. 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 cut shares of Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Loop Capital set a $6.00 price objective on Adial Pharmaceuticals in a research note on Monday, June 15th. Finally, Alliance Global Partners began coverage on Adial Pharmaceuticals in a research report on Monday, August 3rd. They set a “buy” rating and a $11.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adial Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $15.62.

Insiders Place Their Bets

In other news, major shareholder Coastlands Capital Lp acquired 10,053 shares of Adial Pharmaceuticals stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average cost of $2.79 per share, with a total value of $28,047.87. Following the transaction, the insider directly owned 383,375 shares of the company’s stock, valued at $1,069,616.25. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 36,753 shares of company stock valued at $97,638. Corporate insiders own 1.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals in the 4th quarter valued at about $562,000. Citadel Advisors LLC purchased a new position in shares of Adial Pharmaceuticals during the third quarter worth approximately $51,000. Finally, Jane Street Group LLC raised its stake in shares of Adial Pharmaceuticals by 887.3% during the fourth 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. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.