Cardiol Therapeutics (NASDAQ:CRDL) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm started coverage on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $10.00 target price on the stock.

CRDL has been the topic of several other research reports. Canaccord Genuity Group increased their price target on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Canaccord Genuity Group increased their price target on shares of Cardiol Therapeutics from $6.00 to $8.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, HC Wainwright reiterated a buy rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research report on Friday, June 14th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $7.60.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ:CRDL opened at $2.02 on Wednesday. The company’s 50 day moving average price is $2.21 and its two-hundred day moving average price is $1.65. Cardiol Therapeutics has a 12-month low of $0.66 and a 12-month high of $3.12. The firm has a market cap of $139.38 million, a PE ratio of -5.77 and a beta of 0.99. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.01.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Equities research analysts predict that Cardiol Therapeutics will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

An institutional investor recently raised its position in Cardiol Therapeutics stock. Laird Norton Trust Company LLC grew its holdings in shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) by 63.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 100,000 shares of the company’s stock after acquiring an additional 38,673 shares during the period. Laird Norton Trust Company LLC owned about 0.15% of Cardiol Therapeutics worth $90,000 as of its most recent SEC filing. Institutional investors own 12.49% of the company’s stock.

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.