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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $8.40.

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tejara Capital Ltd lifted its stake in shares of Cardiol Therapeutics by 75.9% during the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock valued at $3,988,000 after buying an additional 1,344,167 shares during the period. PVG Asset Management Corp acquired a new position in Cardiol Therapeutics in the fourth quarter valued at $624,000. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics during the fourth quarter worth about $398,000. Atria Investments Inc acquired a new stake in Cardiol Therapeutics in the 4th quarter worth about $174,000. Finally, Virtu Financial LLC purchased a new stake in Cardiol Therapeutics in the 4th quarter valued at about $61,000. 12.49% of the stock is currently owned by hedge funds and other institutional investors.

Cardiol Therapeutics Stock Performance

CRDL opened at $1.01 on Friday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 52 week low of $0.77 and a 52 week high of $3.12. The business’s 50 day moving average is $1.08 and its two-hundred day moving average is $1.40. The firm has a market cap of $83.44 million, a price-to-earnings ratio of -2.59 and a beta of 1.00.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings results 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 predict that Cardiol Therapeutics will post -0.33 EPS for the current 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.