Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives Average Rating of “Buy” from Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been given an average recommendation of “Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $8.40.

A number of research firms recently weighed in on CRDL. Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Wednesday, December 18th. Finally, RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th.

Hedge Funds Weigh In On Cardiol Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter valued at approximately $27,000. Townsquare Capital LLC acquired a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at $27,000. Jane Street Group LLC acquired a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Cardiol Therapeutics in the 4th quarter valued at $25,000. Finally, Lion Street Advisors LLC raised its holdings in shares of Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after purchasing an additional 34,385 shares in the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

NASDAQ:CRDL opened at $1.20 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market capitalization of $99.13 million, a P/E ratio of -3.08 and a beta of 0.91. The company has a 50 day moving average price of $1.31 and a 200 day moving average price of $1.69. Cardiol Therapeutics has a fifty-two week low of $1.15 and a fifty-two week high of $3.12.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc, a clinical-stage life sciences company, focuses on the research and development of anti-fibrotic and anti-inflammatory therapies for the treatment of heart diseases. Its lead product CardiolRx, which is in Phase II multi-national, randomized, double-blind, and placebo-controlled study to evaluate the efficacy and safety of CardiolRx in acute myocarditis, as well as for the treatment of recurrent pericarditis.