Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) to Post FY2022 Earnings of ($0.63) Per Share, Litchfield Hills Research Forecasts

Adial Pharmaceuticals, Inc. (NASDAQ:ADILGet Rating) – Stock analysts at Litchfield Hills Research upped their FY2022 EPS estimates for Adial Pharmaceuticals in a research report issued to clients and investors on Thursday, May 19th. Litchfield Hills Research analyst T. O�Neill now anticipates that the company will earn ($0.63) per share for the year, up from their previous forecast of ($0.67).

Adial Pharmaceuticals (NASDAQ:ADILGet Rating) last announced its earnings results on Monday, May 16th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04.

Separately, Zacks Investment Research raised Adial Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research note on Friday, April 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $9.25.

Shares of Adial Pharmaceuticals stock opened at $1.36 on Monday. The firm has a 50-day moving average of $1.68 and a 200-day moving average of $2.22. Adial Pharmaceuticals has a 52-week low of $1.14 and a 52-week high of $5.08.

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in Adial Pharmaceuticals in the 1st quarter valued at approximately $40,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Adial Pharmaceuticals in the 1st quarter valued at approximately $70,000. BlackRock Inc. lifted its stake in Adial Pharmaceuticals by 16.3% in the 4th quarter. BlackRock Inc. now owns 227,178 shares of the company’s stock valued at $613,000 after purchasing an additional 31,923 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Adial Pharmaceuticals in the 4th quarter valued at approximately $53,000. Finally, Geode Capital Management LLC lifted its stake in Adial Pharmaceuticals by 34.6% in the 4th quarter. Geode Capital Management LLC now owns 129,327 shares of the company’s stock valued at $349,000 after purchasing an additional 33,250 shares during the last quarter. 10.06% of the stock is owned by institutional investors and hedge funds.

Adial Pharmaceuticals Company Profile (Get Rating)

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 selective serotonin-3 antagonist, which is in Phase III clinical trial for the treatment of alcohol use disorder.

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