Adial Pharmaceuticals (ADIL) Expected to Announce Quarterly Earnings on Wednesday

Adial Pharmaceuticals (NASDAQ:ADIL) is projected to post its results after the market closes on Wednesday, May 13th. Analysts expect Adial Pharmaceuticals to post earnings of ($2.73) per share for the quarter.

Adial Pharmaceuticals Price Performance

Shares of NASDAQ ADIL opened at $1.60 on Wednesday. The company has a market capitalization of $2.29 million, a price-to-earnings ratio of -0.09 and a beta of 1.27. The business has a 50-day moving average of $1.81 and a two-hundred day moving average of $4.86. Adial Pharmaceuticals has a 1 year low of $1.51 and a 1 year high of $18.90.

Institutional Trading of Adial Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in shares of Adial Pharmaceuticals in the 4th quarter valued at about $562,000. Citadel Advisors LLC purchased a new stake in shares of Adial Pharmaceuticals in the 3rd quarter valued at about $51,000. Finally, Jane Street Group LLC lifted its holdings in shares of 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. 16.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group set a $8.00 price target on Adial Pharmaceuticals in a report on Wednesday, February 11th. Weiss Ratings reaffirmed 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, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.75.

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.