Adial Pharmaceuticals (NASDAQ:ADIL) Research Coverage Started at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $11.00 price objective on the stock.

Other analysts also recently issued reports about the company. Brookline Capital Markets downgraded Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Needham & Company LLC downgraded Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Friday, July 17th. Finally, Loop Capital set a $6.00 target price on Adial Pharmaceuticals in a report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.62.

Adial Pharmaceuticals Stock Performance

NASDAQ ADIL opened at $4.05 on Monday. Adial Pharmaceuticals has a one year low of $1.31 and a one year high of $11.47. The company’s 50 day moving average price is $2.76 and its 200 day moving average price is $2.59. The firm has a market capitalization of $8.67 million, a price-to-earnings ratio of -0.51 and a beta of 1.39.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings data on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.73) by $1.25.

Insiders Place Their Bets

In other news, major shareholder Coastlands Capital Lp purchased 10,053 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were purchased at an average price of $2.79 per share, with a total value of $28,047.87. Following the purchase, the insider directly owned 383,375 shares of the company’s stock, valued at approximately $1,069,616.25. This represents a 2.69% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have acquired 36,753 shares of company stock worth $97,638. 1.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Adial Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Adial Pharmaceuticals by 887.3% during the fourth 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 during the last quarter. Citadel Advisors LLC acquired a new position in shares of Adial Pharmaceuticals in the third quarter worth about $51,000. Finally, Armistice Capital LLC purchased a new position in Adial Pharmaceuticals in the fourth quarter valued at about $562,000. 16.41% of the stock is owned by hedge funds and other institutional investors.

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.