Adial Pharmaceuticals (NASDAQ:ADIL) Posts Quarterly Earnings Results

Adial Pharmaceuticals (NASDAQ:ADIL) issued its earnings results on Friday. The company reported ($11.25) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($10.22), FiscalAI reports.

Adial Pharmaceuticals Price Performance

Adial Pharmaceuticals stock traded down $0.41 during trading hours on Friday, reaching $3.98. The stock had a trading volume of 48,581 shares, compared to its average volume of 235,895. The company has a market cap of $10.47 million, a price-to-earnings ratio of -0.50 and a beta of 1.39. The business’s 50 day moving average price is $2.99 and its 200-day moving average price is $2.53. Adial Pharmaceuticals has a 52 week low of $1.31 and a 52 week high of $10.75.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, major shareholder Coastlands Capital Lp acquired 25,000 shares of Adial Pharmaceuticals stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average price of $2.60 per share, for a total transaction of $65,000.00. Following the purchase, the insider directly owned 373,322 shares in the company, valued at $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 this link. Over the last quarter, insiders have purchased 36,753 shares of company stock valued at $97,638. 1.86% of the stock is owned by insiders.

Institutional Trading of Adial Pharmaceuticals

A number of institutional investors have recently made changes to their positions in ADIL. Jane Street Group LLC grew its stake in 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 buying an additional 109,500 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals in the third quarter valued at about $51,000. Finally, Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals in the fourth quarter worth about $562,000. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.