Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) have received a consensus rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.6250.

ADIL has been the topic of a number of analyst reports. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. Loop Capital set a $6.00 price target on Adial Pharmaceuticals in a report on Monday, June 15th. Alliance Global Partners started coverage on Adial Pharmaceuticals in a research report on Monday, August 3rd. They issued a “buy” rating and a $11.00 price objective for the company. Finally, Wall Street Zen raised Adial Pharmaceuticals to a “sell” rating in a research note on Saturday, August 15th.

Insider Buying and Selling

In other Adial Pharmaceuticals news, major shareholder Coastlands Capital Lp bought 10,053 shares of the stock in a transaction on Thursday, July 9th. The stock was acquired at an average cost of $2.79 per share, for a total transaction of $28,047.87. Following the completion of the acquisition, the insider owned 383,375 shares in the company, valued at $1,069,616.25. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 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.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in ADIL. Jane Street Group LLC grew its position in 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 period. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals during the 3rd quarter worth approximately $51,000. Finally, Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals in the fourth quarter worth approximately $562,000. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Price Performance

Shares of ADIL stock opened at $5.60 on Friday. The business’s 50 day simple moving average is $3.64 and its 200 day simple moving average is $2.60. Adial Pharmaceuticals has a one year low of $1.31 and a one year high of $10.75. The stock has a market capitalization of $14.73 million, a PE ratio of -0.38 and a beta of 1.39.

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

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.