Roth Mkm Initiates Coverage on Cardiol Therapeutics (NASDAQ:CRDL)

Roth Mkm began coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $10.00 price target on the stock.

Several other brokerages have also commented on CRDL. HC Wainwright reiterated a buy rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a report on Friday, June 14th. Canaccord Genuity Group increased their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a buy rating in a report on Thursday, May 23rd. Finally, Canaccord Genuity Group increased their price objective on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a buy rating in a report on Thursday, May 23rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average target price of $7.60.

Cardiol Therapeutics Stock Up 1.0 %

Cardiol Therapeutics stock opened at $2.02 on Wednesday. The business has a fifty day moving average of $2.21 and a two-hundred day moving average of $1.65. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.01. The firm has a market cap of $139.38 million, a P/E ratio of -5.77 and a beta of 0.99. Cardiol Therapeutics has a twelve month low of $0.66 and a twelve month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last issued 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). On average, analysts forecast that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Tejara Capital Ltd lifted its position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 29.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 645,457 shares of the company’s stock after acquiring 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 and Exchange Commission (SEC). 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.