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

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have received a consensus rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.40.

CRDL has been the subject of several recent analyst reports. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Monday, February 24th. Finally, Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective for the company.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ:CRDL opened at $1.15 on Friday. The company has a market cap of $95.00 million, a price-to-earnings ratio of -2.95 and a beta of 0.91. The company has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.66. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12 month low of $1.06 and a 12 month high of $3.12.

Hedge Funds Weigh In On Cardiol Therapeutics

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new position in Cardiol Therapeutics in the fourth quarter worth about $25,000. Townsquare Capital LLC purchased a new stake in Cardiol Therapeutics in the third quarter worth about $27,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Cardiol Therapeutics in the third quarter worth about $27,000. Jane Street Group LLC purchased a new stake in Cardiol Therapeutics in the third quarter worth about $29,000. Finally, Cetera Investment Advisers purchased a new stake in Cardiol Therapeutics in the fourth quarter worth about $56,000. 12.49% of the stock is 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.