Adial Pharmaceuticals (NASDAQ:ADIL) Upgraded by RODMAN&RENSHAW to Strong-Buy Rating

RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL) to a strong-buy rating in a report published on Thursday,Zacks.com reports.

Separately, Rodman & Renshaw assumed coverage on shares of Adial Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $8.00 price objective for the company.

Adial Pharmaceuticals Price Performance

Shares of ADIL opened at $1.06 on Thursday. The company’s fifty day simple moving average is $1.03 and its 200-day simple moving average is $1.13. Adial Pharmaceuticals has a twelve month low of $0.77 and a twelve month high of $4.17.

Hedge Funds Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Adial Pharmaceuticals Company Profile

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.