Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Given Average Rating of “Hold” by Brokerages

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) has received an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.6250.

A number of analysts have weighed in on ADIL shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Friday, July 17th. Loop Capital set a $6.00 price target on Adial Pharmaceuticals in a research note on Monday, June 15th. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Brookline Capital Markets lowered Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, Alliance Global Partners started coverage on Adial Pharmaceuticals in a report on Monday, August 3rd. They issued a “buy” rating and a $11.00 target price for the company.

Insider Activity at Adial Pharmaceuticals

In other news, major shareholder Coastlands Capital Lp purchased 10,053 shares of Adial Pharmaceuticals stock in a transaction dated Thursday, July 9th. The shares were bought 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 approximately $1,069,616.25. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 36,753 shares of company stock worth $97,638 over the last quarter. Company insiders own 1.86% of the company’s stock.

Hedge Funds Weigh In On Adial Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its holdings 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 period. Citadel Advisors LLC bought a new position in Adial Pharmaceuticals during the 3rd quarter worth $51,000. Finally, Armistice Capital LLC acquired a new position in Adial Pharmaceuticals during the 4th quarter worth about $562,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Trading Down 1.6%

ADIL opened at $5.60 on Friday. The company has a market cap of $14.73 million, a P/E ratio of -0.38 and a beta of 1.39. The company’s 50 day moving average is $3.64 and its 200-day moving average is $2.60. Adial Pharmaceuticals has a 1-year low of $1.31 and a 1-year high of $10.75.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings data on Friday, August 14th. The company reported ($11.25) earnings per share (EPS) 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.