Adial Pharmaceuticals (NASDAQ:ADIL) Stock Rating Upgraded by Wall Street Zen

Adial Pharmaceuticals (NASDAQ:ADIL) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently issued reports on the company. Loop Capital set a $6.00 price objective on Adial Pharmaceuticals in a research report on Monday, June 15th. Brookline Capital Markets cut Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Alliance Global Partners initiated coverage on Adial Pharmaceuticals in a research report on Monday, August 3rd. They set a “buy” rating and a $11.00 target price on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Finally, Needham & Company LLC lowered Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Three 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 MarketBeat, Adial Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $15.62.

Adial Pharmaceuticals Price Performance

Adial Pharmaceuticals stock opened at $3.98 on Friday. The company’s 50-day moving average price is $3.02 and its 200-day moving average price is $2.52. Adial Pharmaceuticals has a twelve month low of $1.31 and a twelve month high of $10.75. The company has a market cap of $10.47 million, a PE ratio of -0.50 and a beta of 1.39.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its earnings results on Friday, August 14th. The company reported ($11.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($10.22).

Insider Transactions at Adial Pharmaceuticals

In other news, major shareholder Coastlands Capital Lp acquired 10,053 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $2.79 per share, with a total value of $28,047.87. Following the completion of the purchase, the insider directly owned 383,375 shares in the company, valued at approximately $1,069,616.25. This trade represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 36,753 shares of company stock valued at $97,638 over the last ninety days. 1.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adial Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Armistice Capital LLC purchased a new position in Adial Pharmaceuticals during the 4th quarter valued at $562,000. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals in the third quarter worth $51,000. Finally, Jane Street Group LLC lifted its position 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 worth $27,000 after purchasing an additional 109,500 shares during the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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.