Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Receives Average Recommendation of “Hold” from Brokerages

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.1667.

Several analysts recently commented on ADIL shares. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Loop Capital set a $6.00 target price on Adial Pharmaceuticals in a research report on Monday, June 15th. Brookline Capital Markets downgraded 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 report on Monday, April 20th.

Insiders Place Their Bets

In other news, major shareholder Coastlands Capital Lp bought 25,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were bought at an average cost of $2.60 per share, with a total value of $65,000.00. Following the purchase, the insider directly owned 373,322 shares in the company, valued at $970,637.20. This trade represents a 7.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 36,753 shares of company stock worth $97,638. Insiders own 1.86% of the company’s stock.

Institutional Trading of Adial Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Armistice Capital LLC purchased a new position in Adial Pharmaceuticals during the 4th quarter valued at about $562,000. Jane Street Group LLC increased its stake in Adial Pharmaceuticals by 887.3% in the 4th 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 period. Finally, Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals in the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Stock Down 6.4%

Shares of ADIL stock opened at $2.65 on Friday. The stock has a 50-day simple moving average of $2.35 and a 200 day simple moving average of $2.90. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $18.90. The stock has a market capitalization of $5.67 million, a P/E ratio of -0.33 and a beta of 1.43.

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

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.