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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has earned a consensus rating of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of analysts have recently commented on CRDL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Cardiol Therapeutics in a research report 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.

Institutional Trading of Cardiol Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised 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 worth $36,000 after acquiring an additional 15,255 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Cardiol Therapeutics during the second quarter worth $39,000. Tejara Capital Ltd raised its position in Cardiol Therapeutics by 2.2% during the second quarter. Tejara Capital Ltd now owns 3,265,819 shares of the company’s stock worth $4,442,000 after acquiring an additional 70,829 shares in the last quarter. Finally, Sheets Smith Investment Management acquired a new position in shares of Cardiol Therapeutics in the third quarter valued at $152,000. 12.49% of the stock is owned by institutional investors.

Cardiol Therapeutics Stock Performance

Shares of CRDL opened at $1.10 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $2.24. The firm’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.19. The firm has a market cap of $108.75 million, a P/E ratio of -3.24 and a beta of 1.02.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. On average, analysts forecast that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

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.