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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $7.60.

Several analysts have weighed in on the company. Roth Capital raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Wednesday, June 26th. HC Wainwright reiterated a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research report on Friday, June 14th. Canaccord Genuity Group lifted their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Canaccord Genuity Group lifted their price target on Cardiol Therapeutics from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Roth Mkm began coverage on Cardiol Therapeutics in a research report on Wednesday, June 26th. They set a “buy” rating and a $10.00 price target on the stock.

Cardiol Therapeutics Stock Up 0.4 %

Shares of Cardiol Therapeutics stock opened at $2.25 on Friday. The business’s fifty day moving average price is $2.23 and its two-hundred day moving average price is $1.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.81 and a quick ratio of 2.81. The company has a market capitalization of $155.97 million, a P/E ratio of -6.43 and a beta of 0.91. Cardiol Therapeutics has a 1-year low of $0.66 and a 1-year high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its earnings results on Tuesday, May 14th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). As a group, research analysts forecast that Cardiol Therapeutics will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

An institutional investor recently bought a new position in Cardiol Therapeutics stock. Baader Bank Aktiengesellschaft bought a new position in Cardiol Therapeutics Inc. (NASDAQ:CRDL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,028 shares of the company’s stock, valued at approximately $59,000. 12.49% of the stock is currently owned by institutional investors and hedge funds.

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.