Cardiol Therapeutics (NASDAQ:CRDL) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report published on Thursday morning, Benzinga reports. They currently have a $9.00 price target on the stock.

CRDL has been the topic of a number of other research reports. Roth Mkm began coverage on shares of Cardiol Therapeutics in a report on Wednesday, June 26th. They issued a “buy” rating and a $10.00 price target on the stock. Roth Capital raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Wednesday, June 26th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.75.

Cardiol Therapeutics Stock Performance

NASDAQ CRDL opened at $1.92 on Thursday. The company’s 50 day moving average is $2.01 and its 200-day moving average is $2.08. Cardiol Therapeutics has a 12-month low of $0.72 and a 12-month high of $3.12. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.01. The firm has a market cap of $132.48 million, a P/E ratio of -5.49 and a beta of 0.89.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. Sell-side analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics during the 3rd quarter valued at $27,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth about $59,000. Foundations Investment Advisors LLC purchased a new stake in shares of Cardiol Therapeutics in the 2nd quarter worth about $97,000. Lion Street Advisors LLC lifted its position in shares of Cardiol Therapeutics by 31.4% in the 2nd quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock worth $505,000 after purchasing an additional 60,581 shares during the period. Finally, AdvisorShares Investments LLC lifted its position in shares of Cardiol Therapeutics by 12.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock worth $2,934,000 after purchasing an additional 164,994 shares during the period. Hedge funds and other institutional investors 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.