Cardiol Therapeutics (NASDAQ:CRDL) Upgraded by RODMAN&RENSHAW to “Strong-Buy” Rating

Cardiol Therapeutics (NASDAQ:CRDLGet Free Report) was upgraded by equities researchers at RODMAN&RENSHAW to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Rodman & Renshaw began coverage on Cardiol Therapeutics in a research note on Tuesday. They set a “buy” rating and a $7.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $8.40.

View Our Latest Stock Report on Cardiol Therapeutics

Cardiol Therapeutics Price Performance

NASDAQ CRDL opened at $1.31 on Tuesday. Cardiol Therapeutics has a fifty-two week low of $0.96 and a fifty-two week high of $3.12. The business has a fifty day moving average price of $1.38 and a two-hundred day moving average price of $1.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49. The stock has a market capitalization of $108.22 million, a PE ratio of -3.36 and a beta of 0.89.

Hedge Funds Weigh In On Cardiol Therapeutics

Several large investors have recently modified their holdings of the business. Foundations Investment Advisors LLC increased its holdings in Cardiol Therapeutics by 237.4% in the third quarter. Foundations Investment Advisors LLC now owns 161,950 shares of the company’s stock valued at $321,000 after purchasing an additional 113,950 shares during the period. Lion Street Advisors LLC raised its position in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after acquiring an additional 34,385 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics in the third quarter worth approximately $29,000. Townsquare Capital LLC bought a new stake in Cardiol Therapeutics in the third quarter valued at approximately $27,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Cardiol Therapeutics during the 3rd quarter valued at approximately $27,000. Institutional investors own 12.49% of the company’s stock.

About Cardiol Therapeutics

(Get Free Report)

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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Analyst Recommendations for Cardiol Therapeutics (NASDAQ:CRDL)

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