Adial Pharmaceuticals (NASDAQ:ADIL) Rating Increased to Strong-Buy at RODMAN&RENSHAW

Adial Pharmaceuticals (NASDAQ:ADIL) was upgraded by research analysts at RODMAN&RENSHAW 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 research note on Thursday. They issued a “buy” rating and a $8.00 target price on the stock.

Adial Pharmaceuticals Stock Up 15.0 %

Adial Pharmaceuticals stock opened at $1.14 on Thursday. Adial Pharmaceuticals has a fifty-two week low of $0.77 and a fifty-two week high of $4.17. The firm’s fifty day moving average price is $1.02 and its 200-day moving average price is $1.14.

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

Institutional Trading of Adial Pharmaceuticals

A hedge fund recently bought a new stake in Adial Pharmaceuticals stock. Virtu Financial LLC acquired a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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.