Adial Pharmaceuticals (NASDAQ:ADIL) Rating Increased to Strong-Buy at RODMAN&RENSHAW

Posted by Casey Walker on Nov 15th, 2024

RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL – Free Report) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Separately, Rodman & Renshaw assumed coverage on Adial Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $8.00 price target on the stock.

Check Out Our Latest Stock Analysis on ADIL

Adial Pharmaceuticals Stock Performance

ADIL traded down $0.06 during midday trading on Thursday, reaching $1.08. The company’s stock had a trading volume of 181,463 shares, compared to its average volume of 2,676,307. The company has a fifty day simple moving average of $1.02 and a 200 day simple moving average of $1.14. Adial Pharmaceuticals has a twelve month low of $0.77 and a twelve month high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL – Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.20). On average, equities analysts forecast that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals at the end of the most recent quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

About Adial Pharmaceuticals

(Get Free Report)

Adial Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment or prevention of addiction and related disorders. Its lead product is AD04, a serotonin-3 antagonist, which is in Phase III clinical trial for the treatment of alcohol use disorder.