Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL - Get Free Report) have been assigned a consensus rating of "Buy" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.40.

A number of research firms have recently commented on CRDL. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a "strong-buy" rating in a report on Tuesday, January 28th. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a report on Tuesday, January 28th. They issued a "buy" rating and a $7.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Cardiol Therapeutics in a research report on Wednesday.

Cardiol Therapeutics Stock Performance

CRDL remained flat at $1.01 on Friday. The company had a trading volume of 124,517 shares, compared to its average volume of 384,056. The business has a 50 day moving average of $1.08 and a two-hundred day moving average of $1.40. 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 market cap of $83.44 million, a price-to-earnings ratio of -2.59 and a beta of 1.00. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last released its quarterly earnings data 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. On average, equities research analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of large investors have recently bought and sold shares of the business. Tejara Capital Ltd boosted its stake in Cardiol Therapeutics by 75.9% in the fourth 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 in the last quarter. PVG Asset Management Corp bought a new position in shares of Cardiol Therapeutics in the fourth quarter valued at about $624,000. Envestnet Asset Management Inc. acquired a new position in Cardiol Therapeutics during the 4th quarter worth about $398,000. Atria Investments Inc acquired a new position in Cardiol Therapeutics during the 4th quarter worth about $174,000. Finally, Virtu Financial LLC bought a new stake in Cardiol Therapeutics during the 4th quarter worth about $61,000. 12.49% of the stock is currently 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.