Adial Pharmaceuticals (NASDAQ:ADIL) Stock Price Up 2.5% – Time to Buy?
by Jessica Moore · The Cerbat GemAdial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Free Report)’s stock price rose 2.5% during mid-day trading on Wednesday . The stock traded as high as $1.6999 and last traded at $1.62. Approximately 108,884 shares were traded during mid-day trading, an increase of 34% from the average daily volume of 81,286 shares. The stock had previously closed at $1.58.
Analyst Upgrades and Downgrades
Several research firms have recently commented on ADIL. UBS Group set a $8.00 target price on Adial Pharmaceuticals in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adial Pharmaceuticals has a consensus rating of “Hold” and an average target price of $22.75.
View Our Latest Stock Report on Adial Pharmaceuticals
Adial Pharmaceuticals Price Performance
The firm has a market cap of $2.32 million, a price-to-earnings ratio of -0.09 and a beta of 1.40. The firm’s fifty day moving average is $2.12 and its two-hundred day moving average is $5.56.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC grew 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 acquiring an additional 109,500 shares during the period. Citadel Advisors LLC acquired a new position in Adial Pharmaceuticals during the third quarter worth about $51,000. Finally, Armistice Capital LLC purchased a new position in Adial Pharmaceuticals in the 4th quarter worth about $562,000. 16.41% of the stock is owned by institutional investors and hedge funds.
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.