Adial Pharmaceuticals (NASDAQ:ADIL) Upgraded at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Adial Pharmaceuticals (NASDAQ:ADIL) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Separately, Rodman & Renshaw assumed coverage on Adial Pharmaceuticals in a research report on Thursday. They set a “buy” rating and a $8.00 target price for the company.

Adial Pharmaceuticals Trading Down 7.0 %

Shares of NASDAQ:ADIL opened at $1.06 on Thursday. Adial Pharmaceuticals has a 52-week low of $0.77 and a 52-week high of $4.17. The company has a fifty day moving average of $1.03 and a 200-day moving average of $1.13.

Institutional Investors Weigh In On Adial Pharmaceuticals

An institutional investor recently bought a new position in Adial Pharmaceuticals stock. Virtu Financial LLC purchased a new position in Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,469 shares of the company’s stock, valued at approximately $27,000. Virtu Financial LLC owned about 0.48% of Adial Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Adial Pharmaceuticals

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.