Wall Street Zen upgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL – Free Report) to a sell rating in a research note released on Saturday morning.
Several other research firms have also issued reports on ADIL. Alliance Global Partners initiated coverage on Adial Pharmaceuticals in a report on Monday, August 3rd. They set a “buy” rating and a $11.00 price target for the company. Loop Capital set a $6.00 price objective on Adial Pharmaceuticals in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Friday, July 17th. Needham & Company LLC cut Adial Pharmaceuticals to a “buy” rating in a research report on Monday, June 15th. Finally, Brookline Capital Markets downgraded Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Adial Pharmaceuticals presently has an average rating of “Hold” and an average price target of $15.62.
Read Our Latest Report on ADIL
Adial Pharmaceuticals Price Performance
Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($11.25) EPS for the quarter, missing the consensus estimate of ($1.03) by ($10.22).
Insiders Place Their Bets
In other news, major shareholder Coastlands Capital Lp bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of $2.60 per share, with a total value of $65,000.00. Following the acquisition, the insider owned 373,322 shares of the company’s stock, valued at approximately $970,637.20. This represents a 7.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have acquired 36,753 shares of company stock valued at $97,638. Corporate insiders own 1.86% of the company’s stock.
Hedge Funds Weigh In On Adial Pharmaceuticals
Several large investors have recently made changes to their positions in the business. Jane Street Group LLC boosted its stake in shares of Adial Pharmaceuticals by 887.3% in the fourth quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after acquiring an additional 109,500 shares during the period. Citadel Advisors LLC bought a new stake in Adial Pharmaceuticals during the 3rd quarter valued at approximately $51,000. Finally, Armistice Capital LLC bought a new stake in Adial Pharmaceuticals during the 4th quarter valued at approximately $562,000. 16.41% of the stock is currently owned by hedge funds and other institutional investors.
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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