Adial Pharmaceuticals (NASDAQ:ADIL) Stock Rating Upgraded by Maxim Group

Adial Pharmaceuticals (NASDAQ:ADIL) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research report issued on Tuesday,Benzinga reports. The firm presently has a $1.50 price target on the stock. Maxim Group’s target price would suggest a potential upside of 351.26% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Zacks Research cut Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded Adial Pharmaceuticals to a “sell” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.75.

Adial Pharmaceuticals Stock Performance

Shares of ADIL opened at $0.33 on Tuesday. Adial Pharmaceuticals has a 52 week low of $0.22 and a 52 week high of $1.30. The stock has a market capitalization of $7.26 million, a price-to-earnings ratio of -0.32 and a beta of 1.08. The stock has a fifty day moving average of $0.39 and a 200-day moving average of $0.51.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. As a group, equities analysts forecast that Adial Pharmaceuticals will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adial Pharmaceuticals stock. Citadel Advisors LLC lifted its holdings in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) by 63.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,508 shares of the company’s stock after acquiring an additional 21,238 shares during the period. Citadel Advisors LLC owned approximately 0.85% of Adial Pharmaceuticals worth $55,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Adial Pharmaceuticals

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.