Fintel reports that on November 14, 2024, Rodman & Renshaw initiated coverage of Adial Pharmaceuticals (NasdaqCM:ADIL) with a Buy recommendation.
Analyst Price Forecast Suggests 576.99% Upside
As of October 22, 2024, the average one-year price target for Adial Pharmaceuticals is $7.65/share. The forecasts range from a low of $7.07 to a high of $8.40. The average price target represents an increase of 576.99% from its latest reported closing price of $1.13 / share.
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The projected annual revenue for Adial Pharmaceuticals is 0MM. The projected annual non-GAAP EPS is -0.50.
What is the Fund Sentiment?
There are 19 funds or institutions reporting positions in Adial Pharmaceuticals. This is an decrease of 2 owner(s) or 9.52% in the last quarter. Average portfolio weight of all funds dedicated to ADIL is 0.00%, an increase of 17.36%. Total shares owned by institutions decreased in the last three months by 14.08% to 256K shares.
What are Other Shareholders Doing?
Manchester Capital Management holds 48K shares representing 0.75% ownership of the company. No change in the last quarter.
Geode Capital Management holds 45K shares representing 0.71% ownership of the company. In its prior filing, the firm reported owning 26K shares , representing an increase of 43.09%. The firm decreased its portfolio allocation in ADIL by 26.22% over the last quarter.
Citadel Advisors holds 33K shares representing 0.52% ownership of the company. In its prior filing, the firm reported owning 25K shares , representing an increase of 25.62%. The firm increased its portfolio allocation in ADIL by 11.33% over the last quarter.
BlackRock holds 28K shares representing 0.43% ownership of the company.
Two Sigma Securities holds 27K shares representing 0.42% ownership of the company.
Adial Pharmaceuticals Background Information
(This description is provided by the company.)
Adial Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the development of treatments for addictions. The Company's lead investigational new drug product, AD04, is a genetically targeted, serotonin-3 receptor antagonist, therapeutic agent for the treatment of Alcohol Use Disorder (AUD) and is currently being investigated in the Company's landmark ONWARD™ pivotal Phase 3 clinical trial for the potential treatment of AUD in subjects with certain target genotypes, which are to be identified using the Company's proprietary companion diagnostic genetic test. A Phase 2b clinical trial of AD04 for the treatment of AUD showed promising results in reducing frequency of drinking, quantity of drinking and heavy drinking (all with statistical significance), and no overt safety concerns (there were no statistically significant serious adverse events reported). AD04 is also believed to have the potential to treat other addictive disorders such as Opioid Use Disorder, gambling, and obesity.
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