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

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

Separately, Rodman & Renshaw initiated coverage on shares of Adial Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $8.00 price objective on the stock.

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL opened at $1.06 on Thursday. The firm’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.

Adial Pharmaceuticals (NASDAQ:ADIL) last released 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). Sell-side analysts anticipate that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

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 position in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.