Adial Pharmaceuticals (NASDAQ:ADIL) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Adial Pharmaceuticals (NASDAQ:ADIL) issued its earnings results on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.23, Zacks reports.

Adial Pharmaceuticals Stock Down 1.5 %

Shares of NASDAQ:ADIL traded down $0.01 during midday trading on Tuesday, reaching $0.72. The company’s stock had a trading volume of 61,690 shares, compared to its average volume of 1,655,549. The firm has a 50 day moving average of $0.91 and a 200-day moving average of $0.99. Adial Pharmaceuticals has a 12-month low of $0.71 and a 12-month high of $3.60.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADIL. RODMAN&RENSHAW raised shares of Adial Pharmaceuticals to a “strong-buy” rating in a report on Thursday, November 14th. Rodman & Renshaw initiated coverage on shares of Adial Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $8.00 target price for the company.

Adial Pharmaceuticals Company Profile

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.