Maxim Group Remains a Buy on Adial Pharmaceuticals (ADIL)

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Adial Pharmaceuticals (ADILResearch Report) yesterday and set a price target of $5.00. The company’s shares closed last Friday at $1.63.

According to TipRanks.com, McCarthy is a top 100 analyst with an average return of 39.8% and a 54.4% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Actinium Pharmaceuticals.

Adial Pharmaceuticals has an analyst consensus of Hold.

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Based on Adial Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $2.28 million. In comparison, last year the company had a GAAP net loss of $2.68 million.

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