HC Wainwright Reiterates Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $9.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 273.44% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group boosted their target price on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $7.00.

Cardiol Therapeutics Stock Up 2.1 %

CRDL stock opened at $2.41 on Friday. The firm’s fifty day simple moving average is $2.17 and its 200-day simple moving average is $1.58. The company has a market capitalization of $164.77 million, a P/E ratio of -6.89 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. Cardiol Therapeutics has a 12 month low of $0.66 and a 12 month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). As a group, equities research analysts forecast that Cardiol Therapeutics will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Tejara Capital Ltd grew its holdings in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 645,457 shares of the company’s stock after buying an additional 148,396 shares during the period. Tejara Capital Ltd owned 1.00% of Cardiol Therapeutics worth $578,000 as of its most recent filing with the Securities & Exchange Commission. 12.49% of the stock is owned by hedge funds and other 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.