HC Wainwright Reiterates Buy Rating for Cardiol Therapeutics (NASDAQ:CRDL)

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report published on Monday morning,Benzinga reports. They currently have a $9.00 price target on the stock.

CRDL has been the topic of several other reports. RODMAN&RENSHAW upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.40.

Cardiol Therapeutics Trading Up 11.6 %

Shares of Cardiol Therapeutics stock opened at $0.92 on Monday. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $3.12. The company’s fifty day simple moving average is $1.13 and its 200-day simple moving average is $1.44. The company has a market cap of $75.59 million, a price-to-earnings ratio of -2.35 and a beta of 1.00. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.01.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. As a group, sell-side analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. PVG Asset Management Corp bought a new position in shares of Cardiol Therapeutics during the 4th quarter worth approximately $624,000. Cetera Investment Advisers bought a new position in shares of Cardiol Therapeutics during the fourth quarter valued at $56,000. Envestnet Asset Management Inc. acquired a new stake in shares of Cardiol Therapeutics in the 4th quarter valued at $398,000. Virtu Financial LLC bought a new stake in shares of Cardiol Therapeutics in the 4th quarter worth about $61,000. Finally, Tejara Capital Ltd increased its position in shares of Cardiol Therapeutics by 75.9% during the 4th quarter. Tejara Capital Ltd now owns 3,115,437 shares of the company’s stock worth $3,988,000 after purchasing an additional 1,344,167 shares in the last quarter. 12.49% of the stock is 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.