Cardiol Therapeutics’ (CRDL) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $9.00 price objective on the stock.

Several other equities research analysts also recently weighed in on CRDL. Rodman & Renshaw assumed coverage on shares of Cardiol Therapeutics in a research note on Tuesday, January 28th. They issued a “buy” rating and a $7.00 target price for the company. RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cardiol Therapeutics has an average rating of “Buy” and an average target price of $8.40.

Cardiol Therapeutics Trading Down 4.7 %

CRDL opened at $1.01 on Wednesday. Cardiol Therapeutics has a 12 month low of $0.77 and a 12 month high of $3.12. The stock has a fifty day moving average price of $1.09 and a 200-day moving average price of $1.41. The firm has a market cap of $83.44 million, a price-to-earnings ratio of -2.59 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 released its quarterly earnings results on Monday, March 31st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. As a group, equities research analysts anticipate that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDL. Jane Street Group LLC acquired a new position in shares of Cardiol Therapeutics in the third quarter valued at about $29,000. Jones Financial Companies Lllp purchased a new stake in Cardiol Therapeutics in the fourth quarter valued at approximately $25,000. Lion Street Advisors LLC increased its holdings in Cardiol Therapeutics by 12.6% in the 4th quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock worth $396,000 after buying an additional 34,385 shares during the period. Cetera Investment Advisers purchased a new position in Cardiol Therapeutics during the 4th quarter worth approximately $56,000. Finally, Virtu Financial LLC acquired a new stake in Cardiol Therapeutics during the 4th quarter valued at approximately $61,000. Hedge funds and other 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.