Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Receives $15.62 Consensus Target Price from Analysts

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) have received an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $15.6250.

Several research firms recently issued reports on ADIL. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Brookline Capital Markets lowered shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Loop Capital set a $6.00 price target on shares of Adial Pharmaceuticals in a research note on Monday, June 15th. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Finally, Alliance Global Partners began coverage on Adial Pharmaceuticals in a report on Monday, August 3rd. They issued a “buy” rating and a $11.00 price objective on the stock.

Insider Transactions at Adial Pharmaceuticals

In other Adial Pharmaceuticals news, major shareholder Coastlands Capital Lp bought 10,053 shares of Adial Pharmaceuticals stock in a transaction on Thursday, July 9th. The shares were bought at an average price of $2.79 per share, for a total transaction of $28,047.87. Following the completion of the transaction, the insider directly owned 383,375 shares of the company’s stock, valued at $1,069,616.25. This trade represents a 2.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders acquired a total of 36,753 shares of company stock worth $97,638 over the last ninety days. 1.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of hedge funds have recently modified their holdings of ADIL. Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals in the 4th quarter valued at about $562,000. Citadel Advisors LLC acquired a new stake in shares of Adial Pharmaceuticals during the third quarter valued at about $51,000. Finally, Jane Street Group LLC increased its position in shares of Adial Pharmaceuticals by 887.3% during the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after acquiring an additional 109,500 shares during the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Stock Performance

NASDAQ ADIL opened at $4.21 on Tuesday. The stock’s fifty day moving average is $2.87 and its two-hundred day moving average is $2.56. The firm has a market capitalization of $9.01 million, a P/E ratio of -0.53 and a beta of 1.39. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $10.75.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued 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.