Alliance Global Partners Begins Coverage on Adial Pharmaceuticals (NASDAQ:ADIL)

by · The Markets Daily

Investment analysts at Alliance Global Partners started coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $11.00 price target on the stock. Alliance Global Partners’ target price would indicate a potential upside of 229.34% from the company’s previous close.

A number of other brokerages also recently issued reports on ADIL. Loop Capital set a $6.00 price objective on shares of Adial Pharmaceuticals in a research report on Monday, June 15th. Needham & Company LLC lowered shares of Adial Pharmaceuticals to a “buy” rating in a research note on Monday, June 15th. Brookline Capital Markets cut shares of Adial Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Friday, July 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Adial Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $15.62.

Check Out Our Latest Report on Adial Pharmaceuticals

Adial Pharmaceuticals Stock Performance

NASDAQ ADIL opened at $3.34 on Monday. The stock has a market cap of $7.16 million, a P/E ratio of -0.42 and a beta of 1.43. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $12.00. The stock has a 50 day simple moving average of $2.66 and a two-hundred day simple moving average of $2.62.

Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.73) by $1.25.

Insider Activity

In other Adial Pharmaceuticals news, major shareholder Coastlands Capital Lp purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average cost of $2.60 per share, for a total transaction of $65,000.00. Following the purchase, the insider directly owned 373,322 shares in the company, valued at $970,637.20. The trade was a 7.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have bought 36,753 shares of company stock valued at $97,638. 1.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Adial Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ADIL. Armistice Capital LLC purchased a new position in shares of Adial Pharmaceuticals during the fourth quarter valued at approximately $562,000. Citadel Advisors LLC purchased a new stake in shares of Adial Pharmaceuticals in the 3rd quarter worth approximately $51,000. Finally, Jane Street Group LLC increased its position 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 in the last quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Adial Pharmaceuticals

(Get Free Report)

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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