Adial Pharmaceuticals (NASDAQ:ADIL) Raised to “Strong-Buy” at RODMAN&RENSHAW

Adial Pharmaceuticals (NASDAQ:ADIL) was upgraded by stock analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

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

Adial Pharmaceuticals Stock Down 7.0 %

Shares of NASDAQ ADIL opened at $1.06 on Thursday. The stock has a fifty day moving average price of $1.03 and a two-hundred day moving average price of $1.13. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.20). On average, research analysts expect that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals as of its most recent filing with the SEC. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Adial Pharmaceuticals

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.