Adial Pharmaceuticals (NASDAQ:ADIL) Stock Price Down 8.8% – Time to Sell?

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) shares traded down 8.8% on Wednesday. The company traded as low as $3.00 and last traded at $3.00. 27,398 shares were traded during trading, a decline of 38% from the average daily volume of 44,025 shares. The stock had previously closed at $3.29.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADIL shares. Wall Street Zen upgraded shares of Adial Pharmaceuticals to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered Adial Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Finally, Alliance Global Partners assumed coverage on Adial Pharmaceuticals in a report on Monday, August 3rd. They set a “buy” rating and a $11.00 target price for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.33.

Adial Pharmaceuticals Stock Up 12.5%

The stock has a market cap of $9.29 million, a price-to-earnings ratio of -0.23 and a beta of 1.50. The company has a 50 day simple moving average of $4.89 and a 200-day simple moving average of $3.21.

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

Adial Pharmaceuticals Company Profile

Adial Pharmaceuticals, Inc (NASDAQ: ADIL) is a clinical-stage biopharmaceutical company focused on developing treatments for addiction and related disorders. The company uses a genetically targeted approach intended to identify patients who may be more likely to respond to specific therapies.

Adial’s lead product candidate, AD04, is an investigational formulation of ondansetron, a selective serotonin-3 receptor antagonist. It is being developed for the treatment of alcohol use disorder, with the goal of reducing alcohol consumption and supporting abstinence in genetically selected patient populations.