Adial Pharmaceuticals (NASDAQ:ADIL) Announces Quarterly Earnings Results

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

Adial Pharmaceuticals Trading Down 9.3%

NASDAQ:ADIL opened at $3.98 on Friday. Adial Pharmaceuticals has a 12 month low of $1.31 and a 12 month high of $10.75. The company has a market cap of $10.45 million, a PE ratio of -0.50 and a beta of 1.39. The company has a 50 day simple moving average of $3.02 and a two-hundred day simple moving average of $2.54.

Insider Buying and Selling at Adial Pharmaceuticals

In other news, major shareholder Coastlands Capital Lp purchased 25,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were purchased at an average cost 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 approximately $970,637.20. This represents a 7.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders acquired 36,753 shares of company stock worth $97,638. 1.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Adial Pharmaceuticals

Large investors have recently made changes to their positions in the company. Armistice Capital LLC bought a new position in shares of Adial Pharmaceuticals in the 4th quarter worth approximately $562,000. Jane Street Group LLC grew its position in shares of Adial Pharmaceuticals by 887.3% during the 4th 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 period. Finally, Citadel Advisors LLC purchased a new stake in shares of Adial Pharmaceuticals in the 3rd quarter worth $51,000. 16.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.