Adial Pharmaceuticals (NASDAQ:ADIL) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) announced its earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.23, Zacks reports.

Adial Pharmaceuticals Stock Down 2.1 %

ADIL stock traded down $0.02 during mid-day trading on Tuesday, reaching $0.72. The company’s stock had a trading volume of 44,413 shares, compared to its average volume of 1,655,536. Adial Pharmaceuticals has a fifty-two week low of $0.71 and a fifty-two week high of $3.60. The company’s 50 day moving average is $0.91 and its two-hundred day moving average is $0.99.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADIL shares. Rodman & Renshaw initiated coverage on Adial Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $8.00 price target on the stock. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, November 14th.

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.