Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) Forecasted to Post Q2 2023 Earnings of ($0.09) Per Share

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL – Get Rating) – Investment analysts at Litchfield Hills Research raised their Q2 2023 earnings per share estimates for shares of Adial Pharmaceuticals in a research note issued on Thursday, May 18th. Litchfield Hills Research analyst T. O’neill now expects that the company will earn ($0.09) per share for the quarter, up from their prior estimate of ($0.11). The consensus estimate for Adial Pharmaceuticals’ current full-year earnings is ($0.28) per share. Litchfield Hills Research also issued estimates for Adial Pharmaceuticals’ Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.35) EPS.

Adial Pharmaceuticals Trading Down 1.1 %

Shares of ADIL stock opened at $0.32 on Monday. The stock has a market cap of $9.13 million, a price-to-earnings ratio of -0.64 and a beta of 0.95. The stock has a 50-day moving average of $0.34 and a 200-day moving average of $0.33. Adial Pharmaceuticals has a 1-year low of $0.20 and a 1-year high of $2.08.

Adial Pharmaceuticals (NASDAQ:ADIL – Get Rating) last announced its quarterly earnings data on Thursday, March 30th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04.

Institutional Investors Weigh In On Adial Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Adial Pharmaceuticals in the first quarter worth approximately $40,000. Virtu Financial LLC bought a new position in Adial Pharmaceuticals in the second quarter worth approximately $43,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in Adial Pharmaceuticals in the first quarter worth approximately $70,000. Millennium Management LLC bought a new position in Adial Pharmaceuticals in the second quarter worth approximately $53,000. Finally, Susquehanna International Group LLP boosted its holdings in Adial Pharmaceuticals by 144.3% in the first quarter. Susquehanna International Group LLP now owns 222,283 shares of the company’s stock worth $78,000 after acquiring an additional 131,287 shares in the last quarter. Institutional investors own 7.42% of the company’s stock.

Adial Pharmaceuticals Company Profile

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Adial Pharmaceuticals, Inc operates as a clinical stage biopharmaceutical company, which focuses on the treatment of alcohol use disorder. Its lead product is AD04, a selective serotonin-3 antagonist. The company was founded by Bankole A. Johnson & William B. Stilley in November 2010 and is headquartered in Charlottesville, VA.