Brokerages Set Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Target Price at $22.75

Shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.1667.

Several research analysts have issued reports on ADIL shares. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research report on Monday. Brookline Capital Markets lowered shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Monday, April 20th. Finally, Loop Capital set a $6.00 price target on shares of Adial Pharmaceuticals in a research report on Monday.

Hedge Funds Weigh In On Adial Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in Adial Pharmaceuticals during the 4th quarter worth approximately $562,000. Citadel Advisors LLC purchased a new position in Adial Pharmaceuticals during the 3rd quarter worth approximately $51,000. Finally, Jane Street Group LLC grew its position in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after purchasing an additional 109,500 shares in the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ:ADIL opened at $2.60 on Monday. Adial Pharmaceuticals has a 12 month low of $1.31 and a 12 month high of $18.90. The stock has a market cap of $5.56 million, a price-to-earnings ratio of -0.33 and a beta of 1.46. The stock’s 50 day moving average price is $1.96 and its 200 day moving average price is $3.45.

Adial Pharmaceuticals (NASDAQ:ADIL) last posted its quarterly earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.73) by $1.25.

Adial Pharmaceuticals Company Profile

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.