Adial Pharmaceuticals (NASDAQ:ADIL) Issues Quarterly Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) released its quarterly earnings results on Friday. The company reported ($1.48) EPS for the quarter, topping the consensus estimate of ($2.73) by $1.25, FiscalAI reports.

Adial Pharmaceuticals Trading Up 0.7%

Shares of ADIL stock opened at $1.43 on Friday. The business’s 50 day moving average is $1.78 and its two-hundred day moving average is $4.75. Adial Pharmaceuticals has a twelve month low of $1.38 and a twelve month high of $18.90. The company has a market capitalization of $2.04 million, a P/E ratio of -0.08 and a beta of 1.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADIL. Jane Street Group LLC grew 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 during the last quarter. Citadel Advisors LLC purchased a new position in shares of Adial Pharmaceuticals in the 3rd quarter valued at approximately $51,000. Finally, Armistice Capital LLC purchased a new position in shares of Adial Pharmaceuticals in the 4th quarter valued at approximately $562,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADIL has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. UBS Group set a $8.00 price target on Adial Pharmaceuticals in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Adial Pharmaceuticals presently 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.