Adial Pharmaceuticals price target lowered to $8 from $37.50 at Maxim

Maxim lowered the firm’s price target on Adial Pharmaceuticals (ADIL) to $8 from $37.50 and keeps a Buy rating on the shares. The firm remains positive on the stock based on the AUD opportunity, as well as a potentially more favorable regulatory environment given Congressional activity in support of combating substance abuse, though its reduced price target reflects the reverse split and the expected dilution, the analyst tells investors in a research note.