Cardiol Therapeutics (NASDAQ:CRDL) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report released on Thursday morning, Benzinga reports. HC Wainwright currently has a $9.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Roth Capital raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Wednesday, June 26th. Roth Mkm assumed coverage on shares of Cardiol Therapeutics in a report on Wednesday, June 26th. They issued a “buy” rating and a $10.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.75.

Cardiol Therapeutics Price Performance

Shares of NASDAQ CRDL traded down $0.02 on Thursday, hitting $1.86. The company’s stock had a trading volume of 36,370 shares, compared to its average volume of 418,016. The stock has a 50 day moving average of $2.01 and a 200-day moving average of $2.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.39. Cardiol Therapeutics has a 12-month low of $0.72 and a 12-month high of $3.12. The company has a market capitalization of $128.43 million, a price-to-earnings ratio of -5.37 and a beta of 0.89.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. As a group, research analysts predict that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of CRDL. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Cardiol Therapeutics in the third quarter valued at $27,000. Lion Street Advisors LLC lifted its position in shares of Cardiol Therapeutics by 7.9% during the 3rd quarter. Lion Street Advisors LLC now owns 273,281 shares of the company’s stock worth $544,000 after purchasing an additional 20,000 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Cardiol Therapeutics during the 2nd quarter valued at $59,000. Foundations Investment Advisors LLC acquired a new position in shares of Cardiol Therapeutics during the second quarter valued at about $97,000. Finally, AdvisorShares Investments LLC raised its holdings in Cardiol Therapeutics by 12.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after acquiring an additional 164,994 shares in the last quarter. 12.49% of the stock is currently owned by institutional investors.

About Cardiol Therapeutics

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.