Canaccord Genuity Group Boosts Cardiol Therapeutics (NASDAQ:CRDL) Price Target to $8.00

Cardiol Therapeutics (NASDAQ:CRDL) had its target price raised by Canaccord Genuity Group from $6.00 to $8.00 in a research report report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, HC Wainwright reiterated a buy rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a report on Tuesday, May 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and a consensus price target of $7.00.

Cardiol Therapeutics Price Performance

NASDAQ CRDL opened at $2.35 on Thursday. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12-month low of $0.63 and a 12-month high of $2.41. The company has a market capitalization of $160.68 million, a PE ratio of -6.71 and a beta of 0.87. The firm’s 50 day moving average is $1.91 and its 200-day moving average is $1.40.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Equities research analysts anticipate that Cardiol Therapeutics will post -0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd boosted its stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,457 shares of the company’s stock after purchasing an additional 148,396 shares during the quarter. Tejara Capital Ltd owned about 1.00% of Cardiol Therapeutics worth $578,000 at the end of the most recent reporting period. 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.