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 report report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Cardiol Therapeutics in a research note on Monday, December 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cardiol Therapeutics in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Cardiol Therapeutics Stock Performance

CRDL opened at $0.96 on Tuesday. Cardiol Therapeutics has a twelve month low of $0.77 and a twelve month high of $1.59. The firm has a market capitalization of $107.21 million, a PE ratio of -3.20 and a beta of 1.04. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $1.00 and its 200 day moving average price is $1.09.

Cardiol Therapeutics (NASDAQ:CRDL) last released its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). As a group, sell-side analysts expect that Cardiol Therapeutics will post -0.33 EPS for the current fiscal year.

Institutional Trading of Cardiol Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its holdings in shares of Cardiol Therapeutics by 136.2% in 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. Thompson Davis & CO. Inc. purchased a new stake in Cardiol Therapeutics in the second quarter valued at approximately $39,000. Boyer Financial Services Inc. purchased a new stake in Cardiol Therapeutics in the fourth quarter valued at approximately $33,000. Tejara Capital Ltd lifted its stake 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 purchasing an additional 70,829 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its position in shares of Cardiol Therapeutics by 366.5% during the third quarter. Susquehanna International Group LLP now owns 93,398 shares of the company’s stock worth $100,000 after buying an additional 73,375 shares during the period. 12.49% of the stock is owned by institutional investors and hedge funds.

About Cardiol Therapeutics

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.