Analysts Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) PT at $8.40

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDLGet Free Report) have earned an average rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Five research 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 objective among brokerages that have updated their coverage on the stock in the last year is $8.40.

A number of research firms have weighed in on CRDL. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Rodman & Renshaw began coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th.

Check Out Our Latest Research Report on CRDL

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Townsquare Capital LLC purchased a new position in shares of Cardiol Therapeutics in the third quarter valued at $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics in the 3rd quarter worth $27,000. Jane Street Group LLC purchased a new position in Cardiol Therapeutics in the 3rd quarter valued at about $29,000. Foundations Investment Advisors LLC grew 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 acquiring an additional 113,950 shares in the last quarter. Finally, Lion Street Advisors LLC increased its position in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after acquiring an additional 34,385 shares during the last quarter. Hedge funds and other institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

CRDL opened at $1.41 on Tuesday. Cardiol Therapeutics has a 1 year low of $0.96 and a 1 year high of $3.12. The company’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.77. The stock has a market capitalization of $116.48 million, a PE ratio of -3.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49.

About Cardiol Therapeutics

(Get Free Report

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.

Recommended Stories

Analyst Recommendations for Cardiol Therapeutics (NASDAQ:CRDL)

Receive News & Ratings for Cardiol Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardiol Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.