Adial Pharmaceuticals (NASDAQ:ADIL) Stock Falls 8.8% – What’s Next?

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Alliance Global Partners began coverage on Adial Pharmaceuticals in a research report on Monday, August 3rd. They set a “buy” rating and a $11.00 price target on the stock. Wall Street Zen upgraded Adial Pharmaceuticals to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings downgraded Adial Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.33.

Adial Pharmaceuticals Price Performance

The company has a market capitalization of $7.89 million, a PE ratio of -0.20 and a beta of 1.50. The company’s fifty day moving average is $4.92 and its 200-day moving average is $3.20.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its quarterly earnings data on Friday, August 14th. The company reported ($11.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($10.22).

About Adial Pharmaceuticals

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.