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

RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Rodman & Renshaw began coverage on Adial Pharmaceuticals in a report on Thursday. They set a “buy” rating and a $8.00 price target for the company.

Adial Pharmaceuticals Trading Down 7.0 %

Shares of ADIL stock opened at $1.06 on Thursday. The company’s fifty day simple moving average is $1.03 and its two-hundred day simple moving average is $1.13. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.17.

Hedge Funds Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 16.41% of the company’s stock.

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.