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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $7.60.

Several research firms have issued reports on CRDL. Canaccord Genuity Group boosted their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Roth Mkm started coverage on shares of Cardiol Therapeutics in a report on Wednesday, June 26th. They issued a “buy” rating and a $10.00 target price for the company. Canaccord Genuity Group lifted their price target on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Roth Capital raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday, June 26th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research note on Friday, June 14th.

Hedge Funds Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Tejara Capital Ltd boosted its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 645,457 shares of the company’s stock after acquiring an additional 148,396 shares during the quarter. Tejara Capital Ltd owned 1.00% of Cardiol Therapeutics worth $578,000 at the end of the most recent quarter. 12.49% of the stock is owned by hedge funds and other institutional investors.

Cardiol Therapeutics Stock Up 1.0 %

CRDL stock opened at $2.02 on Wednesday. Cardiol Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $3.12. The company has a market capitalization of $139.38 million, a price-to-earnings ratio of -5.77 and a beta of 0.99. The business’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.81 and a current ratio of 2.81.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). As a group, analysts forecast that Cardiol Therapeutics will post -0.34 earnings per share for the current fiscal 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.