Adial Pharmaceuticals (NASDAQ:ADIL) Issues Earnings Results, Misses Estimates By $10.22 EPS

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

Adial Pharmaceuticals Stock Down 9.3%

Shares of NASDAQ ADIL traded down $0.41 during midday trading on Friday, reaching $3.98. 48,581 shares of the stock were exchanged, compared to its average volume of 235,895. The firm has a market cap of $10.47 million, a price-to-earnings ratio of -0.50 and a beta of 1.39. Adial Pharmaceuticals has a twelve month low of $1.31 and a twelve month high of $10.75. The firm has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $2.53.

Insider Activity

In other news, major shareholder Coastlands Capital Lp purchased 25,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average cost of $2.60 per share, with a total value of $65,000.00. Following the completion of the acquisition, the insider owned 373,322 shares of the company’s stock, valued at approximately $970,637.20. This represents a 7.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 36,753 shares of company stock valued at $97,638. Insiders own 1.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADIL. Jane Street Group LLC boosted its stake in shares of Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after acquiring an additional 109,500 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Adial Pharmaceuticals in the 3rd quarter valued at about $51,000. Finally, Armistice Capital LLC acquired a new position in Adial Pharmaceuticals in the 4th quarter worth about $562,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on ADIL shares. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a report on Monday, June 15th. Alliance Global Partners started coverage on shares of Adial Pharmaceuticals in a research report on Monday, August 3rd. They set a “buy” rating and a $11.00 price target for the company. Loop Capital set a $6.00 price objective on shares of Adial Pharmaceuticals in a report on Monday, June 15th. Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.62.

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.