Adial Pharmaceuticals (NASDAQ:ADIL) Coverage Initiated at Rodman & Renshaw

Stock analysts at Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL opened at $1.06 on Thursday. The stock’s 50 day moving average price is $1.03 and its 200 day moving average price is $1.13. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly 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, equities research analysts predict that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

Institutional Trading of Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 reporting period. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

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.