Cardiol Therapeutics (NASDAQ:CRDL) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report released on Thursday, Benzinga reports. They currently have a $9.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Roth Capital raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Wednesday, June 26th. Roth Mkm started coverage on Cardiol Therapeutics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $10.00 price objective for the company. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $8.75.

Cardiol Therapeutics Stock Up 2.1 %

CRDL opened at $1.92 on Thursday. The business has a 50 day simple moving average of $2.01 and a 200-day simple moving average of $2.08. Cardiol Therapeutics has a 12 month low of $0.72 and a 12 month high of $3.12. The stock has a market capitalization of $132.48 million, a P/E ratio of -5.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.39.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. On average, equities analysts anticipate that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

Large investors have recently modified their holdings of the business. Lion Street Advisors LLC grew its holdings in Cardiol Therapeutics by 31.4% during the 2nd quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after buying an additional 60,581 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Cardiol Therapeutics in the 2nd quarter valued at about $59,000. Foundations Investment Advisors LLC purchased a new position in Cardiol Therapeutics in the 2nd quarter valued at about $97,000. AdvisorShares Investments LLC boosted its stake in shares of Cardiol Therapeutics by 12.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock worth $2,934,000 after purchasing an additional 164,994 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cardiol Therapeutics during the third quarter worth about $27,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.