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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been assigned a consensus recommendation of “Buy” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.40.

A number of equities research analysts have commented on the stock. Rodman & Renshaw initiated coverage on shares of Cardiol Therapeutics in a report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Cardiol Therapeutics in a research note on Monday, April 7th. Finally, RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th.

Cardiol Therapeutics Stock Up 6.8 %

CRDL opened at $0.96 on Friday. The firm has a market cap of $79.06 million, a price-to-earnings ratio of -2.45 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.49 and a current ratio of 2.49. The firm’s 50-day simple moving average is $1.11 and its 200-day simple moving average is $1.43. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $3.12.

Cardiol Therapeutics (NASDAQ:CRDL) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Equities research analysts anticipate that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRDL. Jones Financial Companies Lllp acquired a new stake in Cardiol Therapeutics in the fourth quarter worth $25,000. Jane Street Group LLC bought a new stake in shares of Cardiol Therapeutics in the 3rd quarter valued at $29,000. Cetera Investment Advisers acquired a new stake in shares of Cardiol Therapeutics during the fourth quarter worth about $56,000. Virtu Financial LLC acquired a new stake in Cardiol Therapeutics during the 4th quarter worth approximately $61,000. Finally, Atria Investments Inc bought a new position in Cardiol Therapeutics in the fourth quarter valued at approximately $174,000. Institutional investors own 12.49% of the company’s stock.

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.