Rodman & Renshaw Initiates Coverage on Adial Pharmaceuticals (NASDAQ:ADIL)

Stock analysts at Rodman & Renshaw assumed coverage on shares of Adial Pharmaceuticals (NASDAQ:ADIL) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $8.00 price target on the stock.

Adial Pharmaceuticals Stock Down 2.8 %

ADIL opened at $0.99 on Thursday. The stock’s 50 day moving average price is $1.02 and its 200-day moving average price is $1.14. Adial Pharmaceuticals has a one year low of $0.77 and a one year 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). Equities analysts forecast that Adial Pharmaceuticals will post -1.79 earnings per share for the current year.

Institutional Trading of Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC bought a new stake in shares of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned approximately 0.48% of Adial Pharmaceuticals as of its most recent SEC filing. Institutional investors 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.