Adial Pharmaceuticals (NASDAQ:ADIL) Shares Down 8.8% – Time to Sell?

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADIL shares. Wall Street Zen raised shares of Adial Pharmaceuticals to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered Adial Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, Alliance Global Partners started coverage on Adial Pharmaceuticals in a research report on Monday, August 3rd. They set a “buy” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Adial Pharmaceuticals has a consensus rating of “Hold” and an average target price of $8.33.

Adial Pharmaceuticals Stock Down 8.8%

The stock’s 50 day moving average price is $4.92 and its 200-day moving average price is $3.20. The stock has a market capitalization of $7.89 million, a PE ratio of -0.20 and a beta of 1.50.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings results on Friday, August 14th. The company reported ($11.25) EPS for the quarter, missing the consensus estimate 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.