Cardiol Therapeutics’ (CRDL) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report issued on Wednesday,Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other research firms also recently commented on CRDL. B. Riley Financial started coverage on shares of Cardiol Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $11.00 price target on the stock. Wall Street Zen upgraded shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Monday. Finally, Canaccord Genuity Group upped their target price on Cardiol Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.71 on Wednesday. The firm has a market capitalization of $198.67 million, a price-to-earnings ratio of -6.84 and a beta of 0.79. Cardiol Therapeutics has a one year low of $0.88 and a one year high of $2.34. The stock’s fifty day moving average is $1.72 and its 200-day moving average is $1.38.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. Analysts forecast that Cardiol Therapeutics will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Integrity Alliance LLC. bought a new stake in Cardiol Therapeutics during the 4th quarter valued at approximately $416,000. AdvisorShares Investments LLC increased its position in Cardiol Therapeutics by 7.3% in the 4th quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock worth $570,000 after buying an additional 40,589 shares during the period. Concurrent Investment Advisors LLC bought a new position in Cardiol Therapeutics in the 2nd quarter worth approximately $27,000. PVG Asset Management Corp increased its position in Cardiol Therapeutics by 10.3% in the 1st quarter. PVG Asset Management Corp now owns 107,165 shares of the company’s stock worth $145,000 after buying an additional 10,000 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Cardiol Therapeutics by 62.3% during the first quarter. Royal Bank of Canada now owns 21,648 shares of the company’s stock worth $29,000 after buying an additional 8,306 shares during the last quarter. 12.49% of the stock is currently owned by institutional investors.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc is a clinical-stage biotechnology company focused on developing anti-inflammatory therapies for diseases of the heart. The company’s research centers on the role of inflammation in cardiovascular conditions, including myocarditis and pericarditis, for which treatment options remain limited.

Cardiol’s lead investigational product is CardiolRx, an oral pharmaceutical formulation of cannabidiol designed for use in cardiovascular medicine. The product is being evaluated in clinical research involving acute myocarditis and recurrent pericarditis.