Cardiol Therapeutics Inc. (NASDAQ:CRDL) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been given a consensus rating of “Buy” by the three ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.00.

Separately, HC Wainwright started coverage on Cardiol Therapeutics in a report on Monday, June 2nd. They issued a “buy” rating and a $9.00 price objective for the company.

Cardiol Therapeutics Trading Up 8.2%

NASDAQ:CRDL opened at $1.45 on Friday. The company has a market cap of $119.84 million, a P/E ratio of -4.26 and a beta of 1.03. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $2.63. The business has a 50 day moving average price of $1.21 and a two-hundred day moving average price of $1.20.

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. As a group, analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

Several hedge funds have recently added to or reduced their stakes in CRDL. Tejara Capital Ltd lifted its holdings in Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after purchasing an additional 1,344,167 shares during the last quarter. PVG Asset Management Corp bought a new position in Cardiol Therapeutics during the 4th quarter worth $624,000. Envestnet Asset Management Inc. bought a new position in Cardiol Therapeutics during the 4th quarter worth $398,000. Atria Investments Inc bought a new position in Cardiol Therapeutics during the 4th quarter worth $174,000. Finally, Virtu Financial LLC bought a new position in Cardiol Therapeutics during the 4th quarter worth $61,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

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.