Adial Pharmaceuticals (NASDAQ:ADIL) Lowered to “Hold” Rating by Brookline Capital Markets

Adial Pharmaceuticals (NASDAQ:ADIL) was downgraded by research analysts at Brookline Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. UBS Group set a $8.00 price objective on Adial Pharmaceuticals in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adial Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $22.75.

Adial Pharmaceuticals Price Performance

ADIL opened at $2.98 on Thursday. Adial Pharmaceuticals has a twelve month low of $1.31 and a twelve month high of $18.90. The company has a 50-day moving average price of $1.86 and a 200 day moving average price of $3.63. The company has a market cap of $6.38 million, a PE ratio of -0.37 and a beta of 1.46.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.73) by $1.25. As a group, sell-side analysts expect that Adial Pharmaceuticals will post -7.09 earnings per share for the current year.

Institutional Investors Weigh In On Adial Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC purchased a new position in Adial Pharmaceuticals during the fourth quarter worth approximately $562,000. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals in the 3rd quarter valued at $51,000. Finally, Jane Street Group LLC increased 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 worth $27,000 after acquiring an additional 109,500 shares during the last quarter. Institutional investors and hedge funds 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.