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

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

Several other brokerages also recently issued reports on CRDL. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 price objective for the company. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Cardiol Therapeutics currently has a consensus rating of “Buy” and an average price target of $8.40.

Cardiol Therapeutics Stock Up 11.6 %

CRDL stock opened at $0.92 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The firm has a market capitalization of $75.59 million, a P/E ratio of -2.35 and a beta of 1.00. Cardiol Therapeutics has a 52-week low of $0.77 and a 52-week high of $3.12. The company’s 50 day simple moving average is $1.13 and its 200-day simple moving average is $1.44.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. As a group, equities research analysts anticipate that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at approximately $27,000. Jane Street Group LLC bought a new stake in Cardiol Therapeutics in the third quarter worth approximately $29,000. Lion Street Advisors LLC grew its position in Cardiol Therapeutics by 12.6% in the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after acquiring an additional 34,385 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Cardiol Therapeutics during the 4th quarter worth $25,000. Finally, Atria Investments Inc bought a new position in shares of Cardiol Therapeutics during the 4th quarter valued at $174,000. 12.49% of the stock is owned by hedge funds and other 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.