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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.40.

Several equities research analysts recently commented on the stock. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target on the stock. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th.

Cardiol Therapeutics Price Performance

Shares of CRDL opened at $1.20 on Friday. Cardiol Therapeutics has a twelve month low of $1.15 and a twelve month high of $3.12. The firm’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $1.69. The firm has a market capitalization of $99.13 million, a price-to-earnings ratio of -3.08 and a beta of 0.91. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at $29,000. Townsquare Capital LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at $27,000. Wealth Enhancement Advisory Services LLC acquired a new position in Cardiol Therapeutics in the third quarter valued at $27,000. Foundations Investment Advisors LLC increased 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 valued at $321,000 after purchasing an additional 113,950 shares during the period. Finally, Lion Street Advisors LLC increased its stake in Cardiol Therapeutics by 12.6% in the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after purchasing an additional 34,385 shares during the period. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.