Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.75 Consensus Target Price from Brokerages

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.75.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRDL. Baader Bank Aktiengesellschaft bought a new position in Cardiol Therapeutics during the 2nd quarter worth approximately $59,000. Foundations Investment Advisors LLC acquired a new stake in Cardiol Therapeutics in the second quarter worth about $97,000. Lion Street Advisors LLC grew its position in Cardiol Therapeutics by 31.4% in the 2nd quarter. Lion Street Advisors LLC now owns 253,281 shares of the company’s stock valued at $505,000 after buying an additional 60,581 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its stake in Cardiol Therapeutics by 12.7% during the 2nd quarter. AdvisorShares Investments LLC now owns 1,466,972 shares of the company’s stock valued at $2,934,000 after buying an additional 164,994 shares during the period. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Price Performance

CRDL stock opened at $2.33 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.39 and a current ratio of 2.39. Cardiol Therapeutics has a 1 year low of $0.66 and a 1 year high of $3.12. The firm has a market cap of $160.77 million, a P/E ratio of -6.66 and a beta of 0.89. The stock has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $2.01.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its earnings results on Monday, August 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. On average, equities analysts predict that Cardiol Therapeutics will post -0.34 earnings per share for the current fiscal year.

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.