Adial Pharmaceuticals (NASDAQ:ADIL) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw assumed coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Stock Down 2.8 %

Shares of ADIL opened at $0.99 on Thursday. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17. The business’s 50 day simple moving average is $1.02 and its 200-day simple moving average is $1.14.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.20). Research analysts predict that Adial Pharmaceuticals will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals as of its most recent SEC filing. Institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Company Profile

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.