Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Cardiol Therapeutics Inc. (NASDAQ:CRDL) has received a consensus rating of "Buy" from five research firms, with recommendations ranging from a sell to strong buy.
• The average 1-year price target for CRDL is $8.00, while the stock recently traded up 1.9% to $1.07 with a market cap of $91.96 million.
• Institutional investors have recently increased their stakes in Cardiol, with Bank of America lifting its position by 136.2% during the second quarter.

Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) has been assigned a consensus recommendation of "Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.00.

CRDL has been the topic of a number of research reports. Brookline Capital Management upgraded shares of Cardiol Therapeutics to a "strong-buy" rating in a report on Wednesday, September 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cardiol Therapeutics in a report on Saturday, September 27th.

Cardiol Therapeutics Trading Up 1.9%

Shares of NASDAQ:CRDL traded up $0.02 during mid-day trading on Friday, reaching $1.07. 784,003 shares of the company were exchanged, compared to its average volume of 779,893. The firm has a market cap of $91.96 million, a price-to-earnings ratio of -3.15 and a beta of 1.02. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $2.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The firm's 50-day simple moving average is $1.15 and its 200 day simple moving average is $1.17.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. Equities research analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of Cardiol Therapeutics by 136.2% during the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock worth $36,000 after purchasing an additional 15,255 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Cardiol Therapeutics during the 2nd quarter worth $39,000. Lion Street Advisors LLC lifted its position in shares of Cardiol Therapeutics by 8.5% during the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company's stock worth $318,000 after purchasing an additional 26,059 shares during the last quarter. Finally, Tejara Capital Ltd lifted its position in shares of Cardiol Therapeutics by 2.6% during the 1st quarter. Tejara Capital Ltd now owns 3,194,990 shares of the company's stock worth $3,099,000 after purchasing an additional 79,553 shares during the last quarter. 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.

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