Adial Pharmaceuticals (NASDAQ:ADIL) Stock Rating Lowered by Brookline Capital Markets

Adial Pharmaceuticals (NASDAQ:ADIL) was downgraded by equities researchers 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 research firms also recently issued reports on ADIL. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. UBS Group set a $8.00 price objective on Adial Pharmaceuticals in a report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.75.

Adial Pharmaceuticals Price Performance

Adial Pharmaceuticals stock opened at $2.98 on Thursday. The stock 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 capitalization of $6.38 million, a price-to-earnings ratio of -0.37 and a beta of 1.46. Adial Pharmaceuticals has a 52 week low of $1.31 and a 52 week high of $18.90.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.73) by $1.25. Research analysts anticipate that Adial Pharmaceuticals will post -7.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ADIL. Jane Street Group LLC raised its holdings in 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 purchasing an additional 109,500 shares during the period. Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals during the 4th quarter worth approximately $562,000. Finally, Citadel Advisors LLC purchased a new position in shares of Adial Pharmaceuticals during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors 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.