Adial Pharmaceuticals (NASDAQ:ADIL) Issues Quarterly Earnings Results, Beats Estimates By $1.25 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) announced its quarterly earnings data on Friday. The company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.73) by $1.25, FiscalAI reports.

Adial Pharmaceuticals Price Performance

NASDAQ:ADIL traded up $0.01 during mid-day trading on Friday, reaching $1.43. 87,022 shares of the stock were exchanged, compared to its average volume of 100,143. The business has a fifty day moving average price of $1.78 and a 200 day moving average price of $4.75. Adial Pharmaceuticals has a 1-year low of $1.38 and a 1-year high of $18.90.

Analyst Ratings Changes

ADIL has been the topic of a number of recent research reports. UBS Group set a $8.00 target price on Adial Pharmaceuticals in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adial Pharmaceuticals in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.75.

Hedge Funds Weigh In On Adial Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new stake in Adial Pharmaceuticals during the 4th quarter worth about $562,000. Citadel Advisors LLC acquired a new stake in Adial Pharmaceuticals during the 3rd quarter worth about $51,000. Finally, Jane Street Group LLC boosted its position in Adial Pharmaceuticals by 887.3% during the 4th quarter. Jane Street Group LLC now owns 121,841 shares of the company’s stock worth $27,000 after acquiring an additional 109,500 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.