Research analysts at Alliance Global Partners assumed coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $11.00 price target on the stock. Alliance Global Partners’ price objective would indicate a potential upside of 229.34% from the company’s previous close.
A number of other research firms also recently weighed in on ADIL. Weiss Ratings restated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Friday, July 17th. Needham & Company LLC cut shares of Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Loop Capital set a $6.00 price target on shares of Adial Pharmaceuticals in a research note on Monday, June 15th. Finally, Brookline Capital Markets lowered shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adial Pharmaceuticals has a consensus rating of “Hold” and an average price target of $15.62.
Get Our Latest Analysis on ADIL
Adial Pharmaceuticals Price Performance
Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.73) by $1.25.
Insiders Place Their Bets
In related news, major shareholder Coastlands Capital Lp bought 10,053 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was bought at an average cost of $2.79 per share, for a total transaction of $28,047.87. Following the acquisition, the insider directly owned 383,375 shares of the company’s stock, valued at $1,069,616.25. The trade was a 2.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 36,753 shares of company stock worth $97,638. Corporate insiders own 1.86% of the company’s stock.
Institutional Trading of Adial Pharmaceuticals
A number of institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC bought a new position in shares of Adial Pharmaceuticals in the fourth quarter worth approximately $562,000. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals during the 3rd quarter valued at $51,000. Finally, Jane Street Group LLC raised its holdings in 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 buying an additional 109,500 shares during the last quarter. 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.
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