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

HC Wainwright reiterated their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a research note released on Tuesday,Benzinga reports. They currently have a $9.00 price objective on the stock.

CRDL has been the subject of a number of other research reports. Brookline Cap M raised shares of Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Brookline Capital Acquisition upgraded Cardiol Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Cardiol Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $9.00.

Cardiol Therapeutics Stock Performance

CRDL opened at $1.02 on Tuesday. 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 has a 52-week low of $0.77 and a 52-week high of $1.59. The firm has a market cap of $113.91 million, a P/E ratio of -3.40 and a beta of 1.04. The business’s fifty day moving average is $1.01 and its 200-day moving average is $1.07.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Sell-side analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Cardiol Therapeutics

Several large investors have recently modified their holdings of CRDL. Simplex Trading LLC lifted its holdings in shares of Cardiol Therapeutics by 96.9% during the fourth quarter. Simplex Trading LLC now owns 32,197 shares of the company’s stock worth $31,000 after purchasing an additional 15,842 shares during the period. AdvisorShares Investments LLC grew its position in shares of Cardiol Therapeutics by 7.3% in the 4th quarter. AdvisorShares Investments LLC now owns 597,977 shares of the company’s stock valued at $570,000 after buying an additional 40,589 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in shares of Cardiol Therapeutics in the fourth quarter valued at about $416,000. Tejara Capital Ltd raised its position in shares of Cardiol Therapeutics by 95.1% during the fourth quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock worth $4,893,000 after acquiring an additional 2,500,000 shares during the last quarter. Finally, Boyer Financial Services Inc. bought a new position in shares of Cardiol Therapeutics during the fourth quarter worth about $33,000. Institutional investors own 12.49% of the company’s stock.

Cardiol Therapeutics Company Profile

Cardiol Therapeutics Inc (NASDAQ: CRDL) is a clinical-stage pharmaceutical company dedicated to developing immunomodulatory treatments for patients with cardiovascular disease. The company’s lead asset, CardiolRx, is a proprietary, pharmaceutical-grade cannabidiol (CBD) formulation designed to target the inflammation and oxidative stress underlying conditions such as acute myocardial injury and heart failure. Cardiol holds exclusive global rights to CardiolRx through a licensing partnership and is advancing additional preclinical programs focused on small-molecule immunotherapies for heart disease.

CardiolRx is formulated for oral administration and has been evaluated in a randomized, placebo-controlled Phase 2 myocardial protection study assessing safety and key biomarkers following acute coronary syndromes.