Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.40 Consensus PT from Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.40.

Several equities analysts have weighed in on the company. RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Monday, February 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CRDL. Townsquare Capital LLC bought a new stake in Cardiol Therapeutics in the 3rd quarter valued at $27,000. Jane Street Group LLC bought a new stake in shares of Cardiol Therapeutics in the third quarter valued at about $29,000. Lion Street Advisors LLC boosted its position in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Cardiol Therapeutics during the fourth quarter worth about $25,000. Finally, Atria Investments Inc bought a new stake in Cardiol Therapeutics in the 4th quarter valued at approximately $174,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $1.06 on Wednesday. The firm has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.55. 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 $87.57 million, a price-to-earnings ratio of -2.72 and a beta of 0.95. Cardiol Therapeutics has a 52 week low of $1.02 and a 52 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.