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

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $9.00 price target on the stock.

A number of other research analysts have also weighed in on CRDL. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective on the stock. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $8.40.

Cardiol Therapeutics Stock Performance

Shares of Cardiol Therapeutics stock opened at $0.85 on Monday. The business has a 50-day simple moving average of $1.17 and a 200 day simple moving average of $1.47. Cardiol Therapeutics has a one year low of $0.77 and a one year high of $3.12. 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 capitalization of $70.22 million, a price-to-earnings ratio of -2.18 and a beta of 1.00.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. On average, research analysts anticipate that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Townsquare Capital LLC purchased a new position in shares of Cardiol Therapeutics in the 3rd quarter worth approximately $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics during the third quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in Cardiol Therapeutics during the fourth quarter worth $25,000. Lion Street Advisors LLC boosted its position in Cardiol Therapeutics by 12.6% in the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after purchasing an additional 34,385 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Cardiol Therapeutics in the 4th quarter valued at $56,000. 12.49% of the stock is owned by institutional investors.

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.