Cardiol Therapeutics (NASDAQ:CRDL) Earns "Buy" Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity reissued a Buy rating on Cardiol with a $8 price objective, implying roughly a 484% upside from the prior close.
• Despite bullish targets (average price target $8.50), the consensus rating is Hold and CRDL trades near $1.37 (down 2.8%) with a market cap of about $153M and a 52‑week range of $0.77–$1.59.
• Cardiol is a clinical‑stage company advancing CardiolRx, a CBD‑based immunomodulatory therapy, and recently reported quarterly EPS of ($0.05), beating estimates of ($0.09).

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report)'s stock had its "buy" rating reissued by Canaccord Genuity Group in a note issued to investors on Monday,Benzinga reports. They currently have a $8.00 price objective on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 483.94% from the company's previous close.

CRDL has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Cardiol Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday. upgraded shares of Cardiol Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 3rd. Finally, HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cardiol Therapeutics currently has a consensus rating of "Hold" and an average price target of $8.50.

Cardiol Therapeutics Stock Down 2.8%

Shares of CRDL traded down $0.04 during mid-day trading on Monday, reaching $1.37. The company had a trading volume of 218,397 shares, compared to its average volume of 539,444. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.89 and a current ratio of 3.89. The firm has a 50-day moving average price of $1.06 and a 200 day moving average price of $1.05. Cardiol Therapeutics has a 52 week low of $0.77 and a 52 week high of $1.59. The company has a market capitalization of $153.19 million, a price-to-earnings ratio of -4.89 and a beta of 0.82.

Cardiol Therapeutics (NASDAQ:CRDL - Get Free Report) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.04. On average, sell-side analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company's stock valued at $36,000 after buying an additional 15,255 shares during the period. Simplex Trading LLC raised its position in Cardiol Therapeutics by 96.9% in the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company's stock worth $31,000 after acquiring an additional 15,842 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Cardiol Therapeutics during the 4th quarter worth $31,000. Boyer Financial Services Inc. purchased a new position in shares of Cardiol Therapeutics during the 4th quarter worth $33,000. Finally, Susquehanna International Group LLP grew its position in shares of Cardiol Therapeutics by 366.5% during the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company's stock valued at $100,000 after acquiring an additional 73,375 shares during the period. Institutional investors own 12.49% of the company's stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc NASDAQ: CRDL is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company's lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.