Adial Pharmaceuticals (NASDAQ:ADIL) Now Covered by Rodman & Renshaw

Rodman & Renshaw began coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a research note published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Trading Down 7.9 %

ADIL traded down $0.09 during trading hours on Thursday, hitting $1.05. The stock had a trading volume of 252,194 shares, compared to its average volume of 2,676,626. Adial Pharmaceuticals has a 1 year low of $0.77 and a 1 year high of $4.17. The company’s fifty day simple moving average is $1.02 and its 200 day simple moving average is $1.14.

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

Institutional Investors Weigh In On Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new stake in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned 0.48% of Adial Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 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.