Cardiol Therapeutics Inc. (NASDAQ:CRDL) Receives $8.00 Average Price Target from Analysts

Shares of Cardiol Therapeutics Inc. (NASDAQ:CRDL) have earned a consensus rating of “Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.00.

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a research note on Wednesday, October 8th. Brookline Capital Management raised shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 17th.

Cardiol Therapeutics Stock Performance

Shares of NASDAQ CRDL opened at $1.03 on Friday. The firm has a 50 day moving average price of $1.07 and a two-hundred day moving average price of $1.19. The stock has a market cap of $102.47 million, a P/E ratio of -3.43 and a beta of 1.02. Cardiol Therapeutics has a 52-week low of $0.77 and a 52-week high of $1.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.89 and a current ratio of 3.89.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). As a group, equities analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current year.

Hedge Funds Weigh In On Cardiol Therapeutics

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Cardiol Therapeutics by 136.2% during the second quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock valued at $36,000 after acquiring an additional 15,255 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Cardiol Therapeutics in the 2nd quarter valued at about $39,000. Susquehanna International Group LLP boosted its position in shares of Cardiol Therapeutics by 366.5% during the 3rd quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock valued at $100,000 after purchasing an additional 73,375 shares in the last quarter. Sheets Smith Investment Management bought a new stake in shares of Cardiol Therapeutics during the 3rd quarter valued at about $152,000. Finally, Virtu Financial LLC acquired a new stake in Cardiol Therapeutics during the third quarter worth approximately $154,000. Institutional investors own 12.49% of the company’s stock.

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.