Cardiol Therapeutics (NASDAQ:CRDL) Price Target Raised to $8.00

Cardiol Therapeutics (NASDAQ:CRDLFree Report) had its price objective hoisted by Canaccord Genuity Group from $6.00 to $8.00 in a report released on Thursday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their target price on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a buy rating in a research note on Thursday. HC Wainwright restated a buy rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research report on Tuesday, May 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Cardiol Therapeutics has an average rating of Buy and an average price target of $7.00.

Read Our Latest Stock Analysis on CRDL

Cardiol Therapeutics Stock Up 5.4 %

CRDL stock opened at $2.35 on Thursday. The company has a market cap of $160.67 million, a price-to-earnings ratio of -6.71 and a beta of 0.87. The company has a fifty day moving average price of $1.91 and a 200 day moving average price of $1.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. Cardiol Therapeutics has a 12 month low of $0.63 and a 12 month high of $2.41.

Cardiol Therapeutics (NASDAQ:CRDLGet Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). Sell-side analysts expect that Cardiol Therapeutics will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cardiol Therapeutics stock. Laird Norton Trust Company LLC lifted its stake in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDLFree Report) by 63.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company’s stock after purchasing an additional 38,673 shares during the quarter. Laird Norton Trust Company LLC owned about 0.15% of Cardiol Therapeutics worth $90,000 at the end of the most recent quarter. 12.49% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Cardiol Therapeutics (NASDAQ:CRDL)

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