Brokerages Set Cardiol Therapeutics Inc. (NASDAQ:CRDL) PT at $8.40

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the company, Marketbeat 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 1 year target price among brokers that have issued ratings on the stock in the last year is $8.40.

Several equities analysts recently commented on CRDL shares. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Cardiol Therapeutics in a research report on Monday, February 24th. RODMAN&RENSHAW raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target for the company.

Cardiol Therapeutics Stock Performance

NASDAQ:CRDL opened at $1.06 on Wednesday. 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 firm has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.55. The firm has a market capitalization of $87.57 million, a PE ratio of -2.72 and a beta of 0.95. Cardiol Therapeutics has a 12-month low of $1.02 and a 12-month high of $3.12.

Institutional Investors Weigh In On Cardiol Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRDL. Townsquare Capital LLC bought a new stake in shares of Cardiol Therapeutics during the third quarter valued at approximately $27,000. Jane Street Group LLC acquired a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. 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. Jones Financial Companies Lllp acquired a new position in shares of Cardiol Therapeutics during the fourth quarter valued at $25,000. Finally, Atria Investments Inc bought a new position in Cardiol Therapeutics in the fourth quarter valued at about $174,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

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.