Adial Pharmaceuticals (NASDAQ:ADIL) Posts Earnings Results, Misses Expectations By $0.60 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) released its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.60), FiscalAI reports.

Adial Pharmaceuticals Stock Performance

ADIL stock traded down $0.02 during midday trading on Thursday, hitting $1.97. 143,346 shares of the stock were exchanged, compared to its average volume of 86,412. The stock’s 50-day moving average price is $4.45 and its 200-day moving average price is $7.09. The stock has a market cap of $2.19 million, a price-to-earnings ratio of -0.11 and a beta of 1.31. Adial Pharmaceuticals has a fifty-two week low of $1.88 and a fifty-two week high of $30.25.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADIL. UBS Group set a $8.00 target price on shares of Adial Pharmaceuticals in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.75.

Hedge Funds Weigh In On Adial Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new position in Adial Pharmaceuticals during the third quarter worth about $51,000. Jane Street Group LLC increased its stake in shares of Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock valued at $27,000 after acquiring an additional 109,500 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in shares of Adial Pharmaceuticals during the 4th quarter worth about $562,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

Adial Pharmaceuticals Company Profile

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.