Cardiol Therapeutics Inc. (NASDAQ:CRDL) Given Average Recommendation of “Buy” by Brokerages

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

Several brokerages recently issued reports on CRDL. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a report on Monday, February 24th. Finally, Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock.

Hedge Funds Weigh In On Cardiol Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CRDL. Tejara Capital Ltd grew its holdings in Cardiol Therapeutics by 75.9% in the fourth quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock worth $3,988,000 after purchasing an additional 1,344,167 shares during the last quarter. PVG Asset Management Corp purchased a new position in Cardiol Therapeutics in the fourth quarter worth $624,000. Envestnet Asset Management Inc. purchased a new position in Cardiol Therapeutics in the fourth quarter worth $398,000. Atria Investments Inc purchased a new position in Cardiol Therapeutics in the fourth quarter worth $174,000. Finally, Virtu Financial LLC purchased a new position in Cardiol Therapeutics in the fourth quarter worth $61,000. 12.49% of the stock is owned by hedge funds and other institutional investors.

Cardiol Therapeutics Stock Performance

Cardiol Therapeutics stock opened at $1.12 on Wednesday. The company has a 50 day moving average price of $1.24 and a 200-day moving average price of $1.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a fifty-two week low of $1.02 and a fifty-two week high of $3.12. The company has a market capitalization of $92.52 million, a PE ratio of -2.87 and a beta of 0.95.

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.