Maxim Group analyst Jason McCarthy maintained a Buy rating on Adial Pharmaceuticals Inc (ADIL) today and set a price target of $5. The company’s shares opened today at $1.27, close to its 52-week low of $1.11.
McCarthy observed:
“Adial reported 3Q18 with $348K in operating expenses and ended the period with $4.8M in cash. We estimate that this is enough runway to get through 1H19 and the P3 initiation in EU.”
According to TipRanks.com, McCarthy is a 1-star analyst with an average return of -1.5% and a 30.2% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adial Pharmaceuticals Inc with a $5 average price target.
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The company has a one-year high of $4.40 and a one-year low of $1.11. Currently, Adial Pharmaceuticals Inc has an average volume of 34.28K.
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