Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.67 Consensus Target Price from Analysts

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has received an average recommendation of “Buy” from the three brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.00.

Separately, HC Wainwright began coverage on Cardiol Therapeutics in a research note on Monday, June 2nd. They issued a “buy” rating and a $9.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in Cardiol Therapeutics in the fourth quarter valued at about $56,000. Virtu Financial LLC acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at approximately $61,000. Envestnet Asset Management Inc. acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at approximately $398,000. Atria Investments Inc acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at approximately $174,000. Finally, PVG Asset Management Corp acquired a new stake in Cardiol Therapeutics in the 4th quarter valued at approximately $624,000. 12.49% of the stock is owned by institutional investors and hedge funds.

Cardiol Therapeutics Trading Down 4.1%

NASDAQ CRDL opened at $1.41 on Friday. The stock has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.20. The company has a market capitalization of $116.54 million, a PE ratio of -4.15 and a beta of 1.03. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. Cardiol Therapeutics has a 12 month low of $0.77 and a 12 month high of $2.63.

Cardiol Therapeutics (NASDAQ:CRDL) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. Research analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

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.