Cardiol Therapeutics’ (CRDL) “Buy” Rating Reiterated at HC Wainwright

Cardiol Therapeutics (NASDAQ:CRDL)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $9.00 target price on the stock.

CRDL has been the topic of a number of other research reports. Rodman & Renshaw started coverage on Cardiol Therapeutics in a research report on Tuesday, January 28th. They set a “buy” rating and a $7.00 price target for the company. RODMAN&RENSHAW raised Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $8.40.

Cardiol Therapeutics Price Performance

CRDL opened at $0.82 on Monday. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $3.12. The company’s 50 day simple moving average is $1.15 and its 200 day simple moving average is $1.46. The stock has a market capitalization of $67.74 million, a PE ratio of -2.10 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.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates 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 Trading of Cardiol Therapeutics

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

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.