Adial Pharmaceuticals (NASDAQ:ADIL) Announces Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) issued its earnings results on Tuesday. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.23, Zacks reports.

Adial Pharmaceuticals Trading Down 2.1 %

ADIL traded down $0.02 on Tuesday, hitting $0.72. 44,413 shares of the company were exchanged, compared to its average volume of 1,655,536. The firm has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $0.99. Adial Pharmaceuticals has a twelve month low of $0.71 and a twelve month high of $3.60.

Analysts Set New Price Targets

ADIL has been the subject of a number of recent analyst reports. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw initiated coverage on Adial Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $8.00 target price for the company.

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.