Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.40 Consensus PT from Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) has received an average rating of "Buy" from the seven analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.40.

Several research firms have recently commented on CRDL. RODMAN&RENSHAW raised Cardiol Therapeutics to a "strong-buy" rating in a report on Tuesday, January 28th. Rodman & Renshaw started coverage on shares of Cardiol Therapeutics in a research report on Tuesday, January 28th. They issued a "buy" rating and a $7.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, April 16th.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth about $29,000. Virtu Financial LLC bought a new stake in Cardiol Therapeutics during the 4th quarter worth $61,000. Atria Investments Inc acquired a new position in shares of Cardiol Therapeutics in the fourth quarter valued at approximately $174,000. Envestnet Asset Management Inc. acquired a new position in Cardiol Therapeutics in the 4th quarter valued at approximately $398,000. Finally, Tejara Capital Ltd raised its position in Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company's stock worth $3,988,000 after purchasing an additional 1,344,167 shares during the last quarter. Institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Stock Up 0.9 %

Cardiol Therapeutics stock traded up $0.01 during mid-day trading on Thursday, reaching $1.15. The company's stock had a trading volume of 85,206 shares, compared to its average volume of 372,073. The business's 50 day simple moving average is $1.04 and its 200 day simple moving average is $1.31. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. Cardiol Therapeutics has a 12 month low of $0.77 and a 12 month high of $3.12. The company has a market capitalization of $95.00 million, a price-to-earnings ratio of -2.95 and a beta of 0.98.

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

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.