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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been assigned a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.40.

A number of equities analysts have recently issued reports on CRDL shares. Rodman & Renshaw started coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Finally, RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of hedge funds have recently modified their holdings of CRDL. Jones Financial Companies Lllp bought a new stake in shares of Cardiol Therapeutics during the 4th quarter valued at $25,000. Townsquare Capital LLC bought a new stake in Cardiol Therapeutics during the third quarter valued at about $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics during the third quarter valued at about $29,000. Cetera Investment Advisers purchased a new position in shares of Cardiol Therapeutics in the fourth quarter valued at about $56,000. Finally, Virtu Financial LLC bought a new position in shares of Cardiol Therapeutics in the fourth quarter worth about $61,000. 12.49% of the stock is currently owned by institutional investors.

Cardiol Therapeutics Stock Performance

CRDL stock opened at $1.12 on Wednesday. The company has a market cap of $92.52 million, a P/E ratio of -2.87 and a beta of 0.95. Cardiol Therapeutics has a 1 year low of $1.02 and a 1 year high of $3.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The stock’s fifty day moving average price is $1.25 and its 200-day moving average price is $1.58.

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.