Cardiol Therapeutics (NASDAQ:CRDL) Rating Reiterated by HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $9.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 386.49% from the stock’s current price.

Several other brokerages also recently issued reports on CRDL. Roth Capital raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday, June 26th. Roth Mkm initiated coverage on Cardiol Therapeutics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $10.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $8.75.

Cardiol Therapeutics Trading Down 1.1 %

Shares of CRDL stock opened at $1.85 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market cap of $127.65 million, a price-to-earnings ratio of -5.29 and a beta of 0.89. Cardiol Therapeutics has a 1 year low of $0.70 and a 1 year high of $3.12. The firm has a fifty day moving average price of $2.01 and a 200-day moving average price of $2.08.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. As a group, equities analysts predict that Cardiol Therapeutics will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Foundations Investment Advisors LLC boosted its stake in shares of Cardiol Therapeutics by 237.4% during the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after purchasing an additional 113,950 shares during the period. Lion Street Advisors LLC lifted its stake in Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after acquiring an additional 20,000 shares during the period. AdvisorShares Investments LLC increased its holdings in Cardiol Therapeutics by 12.7% during the second quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in Cardiol Therapeutics in the second quarter worth approximately $59,000. 12.49% of the stock is currently 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.