Maxim Group analyst Jason McCarthy reiterated a Buy rating on Adial Pharmaceuticals (ADIL – Research 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.
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.