Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Receives $15.62 Average Price Target from Brokerages

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) has been assigned an average rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $15.6250.

Several research firms recently weighed in on ADIL. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Needham & Company LLC lowered Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Loop Capital set a $6.00 price objective on Adial Pharmaceuticals in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Adial Pharmaceuticals to a “sell” rating in a report on Saturday, August 15th. Finally, Alliance Global Partners initiated coverage on shares of Adial Pharmaceuticals in a research report on Monday, August 3rd. They issued a “buy” rating and a $11.00 target price on the stock.

Insider Transactions at Adial Pharmaceuticals

In other Adial Pharmaceuticals news, major shareholder Coastlands Capital Lp acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average price of $2.60 per share, with a total value of $65,000.00. Following the completion of the purchase, the insider directly owned 373,322 shares of the company’s stock, valued at approximately $970,637.20. The trade was a 7.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have bought 36,753 shares of company stock worth $97,638. Company insiders own 8.00% of the company’s stock.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Citadel Advisors LLC bought a new stake in shares of Adial Pharmaceuticals in the 3rd quarter worth approximately $51,000. Jane Street Group LLC raised its stake in Adial Pharmaceuticals by 887.3% during the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after buying an additional 109,500 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Adial Pharmaceuticals during the fourth quarter valued at $562,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Price Performance

Shares of ADIL opened at $6.32 on Friday. The company has a 50-day simple moving average of $3.85 and a two-hundred day simple moving average of $2.66. The firm has a market capitalization of $16.62 million, a PE ratio of -0.43 and a beta of 1.38. Adial Pharmaceuticals has a one year low of $1.31 and a one year high of $10.75.

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