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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $8.40.

Several equities research analysts have commented on the company. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Rodman & Renshaw started coverage on Cardiol Therapeutics in a research report on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research report on Wednesday, December 18th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at approximately $27,000. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at approximately $27,000. Jane Street Group LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at approximately $29,000. Lion Street Advisors LLC lifted its holdings in Cardiol Therapeutics by 7.9% in the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in Cardiol Therapeutics by 237.4% in 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 during the last quarter. 12.49% of the stock is currently owned by institutional investors and hedge funds.

Cardiol Therapeutics Price Performance

Shares of Cardiol Therapeutics stock opened at $1.33 on Tuesday. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a twelve month low of $0.96 and a twelve month high of $3.12. The business has a 50-day moving average price of $1.36 and a 200 day moving average price of $1.77. The firm has a market cap of $109.87 million, a PE ratio of -3.41 and a beta of 0.91.

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.