Adial Pharmaceuticals (NASDAQ:ADIL) Announces Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) posted its quarterly earnings results on Friday. The company reported ($1.48) earnings per share for the quarter, beating the consensus estimate of ($2.73) by $1.25, FiscalAI reports.

Adial Pharmaceuticals Stock Performance

ADIL stock opened at $1.43 on Friday. The firm has a market cap of $2.04 million, a PE ratio of -0.08 and a beta of 1.27. The firm’s 50 day moving average price is $1.78 and its 200-day moving average price is $4.75. Adial Pharmaceuticals has a one year low of $1.38 and a one year high of $18.90.

Institutional Trading of Adial Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its position in Adial Pharmaceuticals by 887.3% in the fourth 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. Armistice Capital LLC acquired a new position in shares of Adial Pharmaceuticals in the fourth quarter worth $562,000. Finally, Citadel Advisors LLC acquired a new position in shares of Adial Pharmaceuticals in the third quarter worth $51,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Wall Street Analyst Weigh In

ADIL has been the topic of several analyst reports. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Adial Pharmaceuticals has an average rating of “Hold” and an average price target of $22.75.

About Adial Pharmaceuticals

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.