Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Receives $17.17 Consensus Target Price from Analysts

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) have been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.1667.

A number of equities analysts have issued reports on the stock. Loop Capital set a $6.00 target price on shares of Adial Pharmaceuticals 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 Monday, April 20th. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Finally, Brookline Capital Markets downgraded Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th.

Insiders Place Their Bets

In related news, major shareholder Coastlands Capital Lp purchased 25,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was bought at an average price of $2.60 per share, with a total value of $65,000.00. Following the completion of the transaction, the insider owned 373,322 shares of the company’s stock, valued at approximately $970,637.20. This represents a 7.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 36,753 shares of company stock worth $97,638 over the last ninety days. Company insiders own 1.86% of the company’s stock.

Institutional Trading of Adial Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in Adial Pharmaceuticals by 887.3% during the 4th 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 in the last quarter. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals in the 3rd quarter valued at about $51,000. Finally, Armistice Capital LLC purchased a new position in Adial Pharmaceuticals in the 4th quarter valued at about $562,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Stock Performance

ADIL opened at $2.79 on Friday. Adial Pharmaceuticals has a one year low of $1.31 and a one year high of $18.90. The company has a market cap of $5.97 million, a price-to-earnings ratio of -0.35 and a beta of 1.43. The business’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.85.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings results 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.

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.