Adial Pharmaceuticals (NASDAQ:ADIL) Coverage Initiated by Analysts at Rodman & Renshaw

Equities researchers at Rodman & Renshaw started coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a report released on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Price Performance

Shares of Adial Pharmaceuticals stock opened at $1.06 on Thursday. The firm has a fifty day moving average price of $1.03 and a two-hundred day moving average price of $1.13. Adial Pharmaceuticals has a fifty-two week low of $0.77 and a fifty-two week high of $4.17.

Adial Pharmaceuticals (NASDAQ:ADIL) last released its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.20). As a group, analysts expect that Adial Pharmaceuticals will post -1.79 EPS for the current fiscal year.

Institutional Trading of Adial Pharmaceuticals

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