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

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $8.40.

CRDL has been the subject of a number of analyst reports. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw began coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a report on Monday, April 7th.

Institutional Trading of Cardiol Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CRDL. PVG Asset Management Corp acquired a new stake in shares of Cardiol Therapeutics during the fourth quarter worth $624,000. Cetera Investment Advisers bought a new position in Cardiol Therapeutics during the fourth quarter worth about $56,000. Envestnet Asset Management Inc. acquired a new stake in Cardiol Therapeutics in the 4th quarter worth about $398,000. Virtu Financial LLC bought a new stake in Cardiol Therapeutics in the 4th quarter valued at about $61,000. Finally, Tejara Capital Ltd grew its position in shares of Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock worth $3,988,000 after purchasing an additional 1,344,167 shares in the last quarter. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $0.96 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a market cap of $79.06 million, a price-to-earnings ratio of -2.45 and a beta of 1.00. The stock’s 50-day moving average is $1.11 and its 200-day moving average is $1.43. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. Equities analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

About Cardiol Therapeutics

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.