Adial Pharmaceuticals (NASDAQ:ADIL) Stock Rating Upgraded by RODMAN&RENSHAW

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

Separately, Rodman & Renshaw began coverage on shares of Adial Pharmaceuticals in a research note on Thursday. They issued a “buy” rating and a $8.00 price objective on the stock.

Adial Pharmaceuticals Stock Performance

NASDAQ:ADIL traded down $0.06 during mid-day trading on Thursday, hitting $1.08. 181,463 shares of the stock traded hands, compared to its average volume of 2,676,307. Adial Pharmaceuticals has a 52 week low of $0.77 and a 52 week high of $4.17. The firm’s 50 day moving average is $1.02 and its two-hundred day moving average is $1.14.

Adial Pharmaceuticals (NASDAQ:ADIL) last announced its quarterly 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). Research analysts predict that Adial Pharmaceuticals will post -1.79 EPS for the current year.

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 Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent 13F filing with the SEC. 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. 16.41% of the stock is currently owned by institutional investors and hedge funds.

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.