Brookline Capital Markets Starts Adial Pharmaceuticals Inc (ADIL) at Buy
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Brookline Capital Markets analyst Kumaraguru Raja initiates coverage on Adial Pharmaceuticals Inc (NASDAQ: ADIL) with a Buy rating and a price target of $12.00.
The analyst commented, "We are initiating coverage of Adial Pharmaceuticals with a Buy rating and a Price Target of $12. Adial Pharmaceuticals is developing AD04 for alcohol use disorder (AUD). AD04 is in the Phase 3 ONWARD trial with data expected in 1H 2022. In multiple Phase 2 trials AD04 was safe and efficacious. The adenosine platform is advancing in preclinical testing as multiple analogues are being developed for a non-opioid pain program. We expect cash to fund operations into early 2022. We foresee a favorable risk reward as AD04 and the adenosine analogs advance through the clinic."
Shares of Adial Pharmaceuticals Inc closed at $3.74 yesterday.
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