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

Adial Pharmaceuticals (NASDAQ:ADIL) posted its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.23, Zacks reports.

Adial Pharmaceuticals Price Performance

NASDAQ:ADIL traded down $0.01 during mid-day trading on Tuesday, hitting $0.72. 61,690 shares of the stock traded hands, compared to its average volume of 1,655,549. Adial Pharmaceuticals has a 12-month low of $0.71 and a 12-month high of $3.60. The business’s 50-day moving average price is $0.91 and its 200 day moving average price is $0.99.

Wall Street Analysts Forecast Growth

ADIL has been the subject of several research analyst reports. RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, November 14th. Rodman & Renshaw initiated coverage on shares of Adial Pharmaceuticals in a research note on Thursday, November 14th. They set a “buy” rating and a $8.00 price target on the stock.

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.