Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.40 Consensus Target Price from Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.40.

CRDL has been the subject of a number of research analyst reports. 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. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a report on Tuesday. They set a “buy” rating and a $7.00 target price for the company. Finally, RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday.

Institutional Trading of Cardiol Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CRDL. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics during the 3rd quarter worth $27,000. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics in the third quarter worth $27,000. Jane Street Group LLC bought a new stake in shares of Cardiol Therapeutics in the 3rd quarter worth about $29,000. Foundations Investment Advisors LLC grew its stake in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock worth $321,000 after purchasing an additional 113,950 shares in the last quarter. Finally, Lion Street Advisors LLC raised its stake in Cardiol Therapeutics by 7.9% during the third quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock valued at $544,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

Shares of NASDAQ:CRDL opened at $1.42 on Tuesday. The firm has a market capitalization of $117.31 million, a price-to-earnings ratio of -3.64 and a beta of 0.89. 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 business’s 50 day simple moving average is $1.37 and its 200-day simple moving average is $1.78. Cardiol Therapeutics has a 12 month low of $0.96 and a 12 month high of $3.12.

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.