Cardiol Therapeutics (NASDAQ:CRDL) Upgraded at Brookline Capital Management

Brookline Capital Management upgraded shares of Cardiol Therapeutics (NASDAQ:CRDL) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

Separately, HC Wainwright started coverage on shares of Cardiol Therapeutics in a research report on Monday, June 2nd. They set a “buy” rating and a $9.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Cardiol Therapeutics presently has a consensus rating of “Strong Buy” and an average price target of $8.00.

Cardiol Therapeutics Trading Up 0.9%

NASDAQ CRDL opened at $1.12 on Wednesday. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $2.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a market cap of $96.25 million, a price-to-earnings ratio of -3.29 and a beta of 1.03. The firm’s 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.18.

Cardiol Therapeutics (NASDAQ:CRDL) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. Equities analysts anticipate that Cardiol Therapeutics will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in Cardiol Therapeutics by 136.2% during the 2nd quarter. Bank of America Corp DE now owns 26,455 shares of the company’s stock worth $36,000 after acquiring an additional 15,255 shares during the last quarter. Tejara Capital Ltd increased its holdings in shares of Cardiol Therapeutics by 2.2% during the 2nd quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock worth $4,442,000 after purchasing an additional 70,829 shares during the period. Thompson Davis & CO. Inc. bought a new position in shares of Cardiol Therapeutics during the 2nd quarter worth about $39,000. Lion Street Advisors LLC increased its holdings in shares of Cardiol Therapeutics by 8.5% during the 1st quarter. Lion Street Advisors LLC now owns 333,725 shares of the company’s stock worth $318,000 after purchasing an additional 26,059 shares during the period. Finally, PVG Asset Management Corp bought a new position in shares of Cardiol Therapeutics during the 4th quarter worth about $624,000. Institutional investors and hedge funds 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.