Cardiol Therapeutics Inc. (CRDL) – What Are Analysts Saying About This Stock?

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have earned an average recommendation of “Moderate Buy” from the four research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.00.

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of Cardiol Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Canaccord Genuity Group boosted their price target on Cardiol Therapeutics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report on Monday, September 21st. B. Riley Financial started coverage on Cardiol Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research note on Wednesday, September 23rd.

Hedge Funds Weigh In On Cardiol Therapeutics

Institutional investors have recently made changes to their positions in the company. State Street Corp purchased a new position in Cardiol Therapeutics in the 3rd quarter valued at about $166,000. Cibc World Market Inc. purchased a new position in shares of Cardiol Therapeutics in the 3rd quarter worth $55,000. Parallel Advisors LLC purchased a new position in shares of Cardiol Therapeutics in the 3rd quarter worth $32,000. AIGH Capital Management LLC purchased a new position in shares of Cardiol Therapeutics in the 3rd quarter worth $166,000. Finally, Concurrent Investment Advisors LLC acquired a new position in Cardiol Therapeutics in the second quarter valued at $27,000. 12.49% of the stock is owned by hedge funds and other institutional investors.

Cardiol Therapeutics Trading Down 3.8%

Shares of CRDL stock opened at $1.00 on Monday. The company has a 50 day moving average price of $1.42 and a 200-day moving average price of $1.30. Cardiol Therapeutics has a 52 week low of $0.88 and a 52 week high of $2.34.

Cardiol Therapeutics (NASDAQ:CRDL) last released its earnings results on Thursday, November 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, sell-side analysts anticipate that Cardiol Therapeutics will post -0.19 EPS for the current year.

About Cardiol Therapeutics

Cardiol Therapeutics is a Canadian biotechnology company developing therapies for inflammatory heart disease and other cardiovascular conditions. Its research focuses on treatments intended to address inflammation and related damage to the heart. The company’s lead candidate, CardiolRx, is a pharmaceutical-grade cannabidiol formulation under clinical investigation for conditions including myocarditis and pericarditis. Cardiol also has CRD-38, an investigational candidate being studied for potential use in heart failure.