Maxim Group slashes price target on Adial Pharmaceuticals Inc. [ADIL] – find out why.

Adial Pharmaceuticals Inc. [NASDAQ: ADIL] jumped around 0.02 points on Tuesday, while shares priced at $0.44 at the close of the session, up 5.45%. The company report on March 6, 2023 that Adial Pharmaceuticals Provides Update on Regulatory Strategy for AD04 for Treatment of Alcohol Use Disorder.

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Company to pursue path toward U.S. and European approvals; Type C meeting with FDA confirmed for Q2 2023; plans in place to meet with multiple European regulatory authorities.

Adial Pharmaceuticals Inc. stock is now 106.00% up from its year-to-date (YTD) trading value. ADIL Stock saw the intraday high of $0.60 and lowest of $0.4011 per share. The company’s 52-week high price is 2.27, which means current price is +107.93% above from all time high which was touched on 03/07/23.

Compared to the average trading volume of 354.52K shares, ADIL reached a trading volume of 17079659 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Adial Pharmaceuticals Inc. [ADIL]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADIL shares is $7.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADIL stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Maxim Group have made an estimate for Adial Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 30, 2018. While these analysts kept the previous recommendation, Dawson James raised their target price to Buy. The new note on the price target was released on October 11, 2018, representing the official price target for Adial Pharmaceuticals Inc. stock.

The Average True Range (ATR) for Adial Pharmaceuticals Inc. is set at 0.07 The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 0.20.

How has ADIL stock performed recently?

Adial Pharmaceuticals Inc. [ADIL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.66. With this latest performance, ADIL shares gained by 5.38% in over the last four-week period, additionally sinking by -12.80% over the last 6 months – not to mention a drop of -76.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADIL stock in for the last two-week period is set at 56.74, with the RSI for the last a single of trading hit 55.75, and the three-weeks RSI is set at 57.16 for Adial Pharmaceuticals Inc. [ADIL]. The present Moving Average for the last 50 days of trading for this stock 0.3608, while it was recorded at 0.4326 for the last single week of trading, and 0.5926 for the last 200 days.

Adial Pharmaceuticals Inc. [ADIL]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -518.38, with Return on Assets sitting at -295.97.

Adial Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.10 and a Current Ratio set at 5.10.

Insider trade positions for Adial Pharmaceuticals Inc. [ADIL]

There are presently around $1 million, or 7.20% of ADIL stock, in the hands of institutional investors. The top three institutional holders of ADIL stocks are: VANGUARD GROUP INC with ownership of 478,875, which is approximately -22.368% of the company’s market cap and around 4.10% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 251,886 shares of the stock with an approximate value of $0.11 million in ADIL stocks shares; and BLACKROCK INC., currently with $100000.0 in ADIL stock with ownership of nearly 0.338% of the company’s market capitalization.

Positions in Adial Pharmaceuticals Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 6 institutional holders increased their position in Adial Pharmaceuticals Inc. [NASDAQ:ADIL] by around 253,991 shares. Additionally, 11 investors decreased positions by around 541,992 shares, while 10 investors held positions by with 832,960 shares. The mentioned changes placed institutional holdings at 1,628,943 shares, according to the latest SEC report filing. ADIL stock had 2 new institutional investments in for a total of 122,287 shares, while 5 institutional investors sold positions of 324,994 shares during the same period.


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