Adial Pharmaceuticals (NASDAQ:ADIL) Trading Up 1% – What’s Next?

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) were up 1% on Wednesday . The company traded as high as $0.3287 and last traded at $0.31. Approximately 528,255 shares were traded during trading, an increase of 26% from the average daily volume of 420,041 shares. The stock had previously closed at $0.3070.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADIL. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, October 8th. Maxim Group raised Adial Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Tuesday, September 30th. Finally, Zacks Research downgraded Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $1.50.

Adial Pharmaceuticals Stock Up 1.0%

The firm has a fifty day moving average price of $0.35 and a two-hundred day moving average price of $0.41. The stock has a market capitalization of $7.44 million, a P/E ratio of -0.41 and a beta of 1.32.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.01. Sell-side analysts anticipate that Adial Pharmaceuticals, Inc. will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Citadel Advisors LLC acquired a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 143,791 shares of the company’s stock, valued at approximately $51,000. Citadel Advisors LLC owned approximately 0.60% of Adial Pharmaceuticals at the end of the most recent quarter. 16.41% of the stock is owned by institutional investors and hedge funds.

Adial Pharmaceuticals Company Profile

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment or prevention of addiction and related disorders. Its lead product is AD04, a serotonin-3 antagonist, which is in Phase III clinical trial for the treatment of alcohol use disorder.