Adial Pharmaceuticals (NASDAQ:ADIL) Downgraded by Brookline Capital Markets to Hold

Brookline Capital Markets downgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other analysts have also recently weighed in on ADIL. UBS Group set a $8.00 price objective on shares of Adial Pharmaceuticals in a report on Wednesday, February 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Adial Pharmaceuticals in a report on Monday, April 20th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.75.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ:ADIL opened at $2.98 on Thursday. The firm’s 50 day moving average price is $1.86 and its 200 day moving average price is $3.63. The stock has a market cap of $6.38 million, a price-to-earnings ratio of -0.37 and a beta of 1.46. Adial Pharmaceuticals has a fifty-two week low of $1.31 and a fifty-two week high of $18.90.

Adial Pharmaceuticals (NASDAQ:ADIL) last issued its earnings results on Friday, May 8th. The company reported ($1.48) earnings per share for the quarter, beating the consensus estimate of ($2.73) by $1.25. On average, equities analysts anticipate that Adial Pharmaceuticals will post -7.09 EPS for the current year.

Institutional Trading of Adial Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADIL. Armistice Capital LLC purchased a new position in shares of Adial Pharmaceuticals during the fourth quarter worth approximately $562,000. Citadel Advisors LLC purchased a new stake in Adial Pharmaceuticals in the 3rd quarter valued at $51,000. Finally, Jane Street Group LLC raised its position in Adial Pharmaceuticals by 887.3% in the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after purchasing an additional 109,500 shares during the last quarter. Institutional investors and hedge funds 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.