Adial Pharmaceuticals (NASDAQ:ADIL) Trading 2.5% Higher – Still a Buy?

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) shares traded up 2.5% on Wednesday . The company traded as high as $1.6999 and last traded at $1.62. 108,884 shares were traded during trading, an increase of 34% from the average session volume of 81,286 shares. The stock had previously closed at $1.58.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, January 21st. UBS Group set a $8.00 price target on shares of Adial Pharmaceuticals in a research report on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adial Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $22.75.

Adial Pharmaceuticals Trading Up 0.6%

The business’s fifty day moving average is $2.06 and its 200-day moving average is $5.49.

Institutional Trading of Adial Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in Adial Pharmaceuticals by 887.3% during the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after buying an additional 109,500 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals during the third quarter worth about $51,000. Finally, Armistice Capital LLC purchased a new stake in Adial Pharmaceuticals during the fourth quarter worth about $562,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.