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

Cardiol Therapeutics Inc. (NASDAQ:CRDL) has been given a consensus rating of “Buy” by the five research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.00.

A number of equities analysts have recently issued reports on CRDL shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, October 8th. Brookline Capital Management upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 17th.

Cardiol Therapeutics Stock Up 4.8%

CRDL opened at $1.02 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.89 and a quick ratio of 3.89. The business has a 50 day simple moving average of $1.08 and a 200-day simple moving average of $1.19. The stock has a market capitalization of $101.48 million, a P/E ratio of -3.40 and a beta of 1.02. Cardiol Therapeutics has a 12 month low of $0.77 and a 12 month high of $1.67.

Cardiol Therapeutics (NASDAQ:CRDL) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, equities analysts anticipate that Cardiol Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CRDL. Bank of America Corp DE raised its holdings 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 purchasing an additional 15,255 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of Cardiol Therapeutics in the second quarter valued at $39,000. Susquehanna International Group LLP increased its position in shares of Cardiol Therapeutics by 366.5% in the third quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock valued at $100,000 after buying an additional 73,375 shares in the last quarter. Sheets Smith Investment Management purchased a new stake in shares of Cardiol Therapeutics in the 3rd quarter worth about $152,000. Finally, Virtu Financial LLC acquired a new stake in Cardiol Therapeutics in the 3rd quarter valued at about $154,000. Institutional investors and hedge funds own 12.49% of the company’s stock.

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.