Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives Average Rating of "Buy" from Brokerages

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) has been given an average recommendation of "Buy" by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $8.40.

CRDL has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Cardiol Therapeutics in a research report on Wednesday, April 16th. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $7.00 price objective for the company. Finally, RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a "strong-buy" rating in a report on Tuesday, January 28th.

Hedge Funds Weigh In On Cardiol Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CRDL. Tejara Capital Ltd boosted its stake in Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock valued at $3,988,000 after purchasing an additional 1,344,167 shares during the period. PVG Asset Management Corp bought a new position in Cardiol Therapeutics in the 4th quarter worth approximately $624,000. Lion Street Advisors LLC increased its position in Cardiol Therapeutics by 8.5% in the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock valued at $318,000 after acquiring an additional 26,059 shares during the period. Envestnet Asset Management Inc. bought a new stake in Cardiol Therapeutics during the 4th quarter valued at $398,000. Finally, Atria Investments Inc acquired a new position in shares of Cardiol Therapeutics during the fourth quarter valued at $174,000. Institutional investors and hedge funds own 12.49% of the company's stock.

Cardiol Therapeutics Stock Performance

Shares of CRDL stock remained flat at $1.13 during mid-day trading on Thursday. 68,001 shares of the stock were exchanged, compared to its average volume of 369,927. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $1.04 and a 200 day moving average price of $1.30. The company has a market capitalization of $93.35 million, a P/E ratio of -2.90 and a beta of 0.98. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. On average, analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Cardiol Therapeutics Company Profile

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.