Adial Pharmaceuticals (ADIL) Raised to Hold at Zacks Investment Research
Adial Pharmaceuticals (NASDAQ:ADIL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
According to Zacks, “Adial Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It focused on the development of a therapeutic agent for the treatment of alcohol use disorder. The company’s lead product consists of AD04 which is in clinical stage. Adial Pharmaceuticals Inc. is based in CHARLOTTESVILLE. “
Several other equities research analysts have also weighed in on the company. Maxim Group set a $5.00 price objective on Adial Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, March 26th. Dawson James reissued a “buy” rating on shares of Adial Pharmaceuticals in a report on Friday, April 12th.
In other Adial Pharmaceuticals news, insider Bankole A. Johnson bought 73,100 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was bought at an average price of $3.29 per share, for a total transaction of $240,499.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds have recently bought and sold shares of ADIL. BlackRock Inc. bought a new position in shares of Adial Pharmaceuticals in the fourth quarter worth about $1,053,000. Geode Capital Management LLC purchased a new stake in shares of Adial Pharmaceuticals during the fourth quarter worth about $69,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Adial Pharmaceuticals during the fourth quarter worth about $60,000. 2.71% of the stock is currently owned by institutional investors.
Adial Pharmaceuticals Company Profile
Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic agents for the treatment of alcohol use disorders. Its lead product is AD04, a selective serotonin-3 antagonist that has completed Phase IIb clinical trials for the treatment of nausea and emesis.
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