Adial Pharmaceuticals (NASDAQ:ADIL) Rating Lowered to Hold at Zacks Investment Research

Adial Pharmaceuticals (NASDAQ:ADILGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Adial Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It focused on the development of a therapeutic agent for the treatment of alcohol use disorder. The company’s lead product consists of AD04 which is in clinical stage. Adial Pharmaceuticals Inc. is based in CHARLOTTESVILLE. “

Shares of NASDAQ ADIL traded down $0.01 during trading on Wednesday, hitting $1.25. The stock had a trading volume of 1,258 shares, compared to its average volume of 118,805. Adial Pharmaceuticals has a 12 month low of $1.13 and a 12 month high of $5.08. The firm has a fifty day moving average of $1.59 and a two-hundred day moving average of $2.13.

Adial Pharmaceuticals (NASDAQ:ADILGet Rating) last posted its earnings results on Monday, May 16th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. On average, research analysts anticipate that Adial Pharmaceuticals will post -0.63 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of ADIL. Renaissance Technologies LLC bought a new stake in shares of Adial Pharmaceuticals in the 1st quarter worth $40,000. Goldman Sachs Group Inc. bought a new position in Adial Pharmaceuticals during the fourth quarter valued at about $53,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Adial Pharmaceuticals during the first quarter valued at about $70,000. Millennium Management LLC bought a new position in Adial Pharmaceuticals during the third quarter valued at about $73,000. Finally, Oppenheimer & Co. Inc. grew its position in Adial Pharmaceuticals by 37.5% during the third quarter. Oppenheimer & Co. Inc. now owns 38,500 shares of the company’s stock valued at $165,000 after buying an additional 10,500 shares during the period. Hedge funds and other institutional investors own 10.06% of the company’s stock.

About Adial Pharmaceuticals (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.

Further Reading

Get a free copy of the Zacks research report on Adial Pharmaceuticals (ADIL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Adial Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adial Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.