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

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

A number of other brokerages have also commented on CRDL. Brookline Cap M upgraded Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 3rd. Brookline Capital Acquisition upgraded Cardiol Therapeutics to a “strong-buy” rating in a report on Tuesday, February 3rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.00.

Cardiol Therapeutics Stock Performance

NASDAQ:CRDL opened at $1.08 on Tuesday. The stock has a market capitalization of $120.61 million, a P/E ratio of -3.60 and a beta of 1.04. Cardiol Therapeutics has a 1 year low of $0.77 and a 1 year high of $1.59. The firm has a 50 day moving average of $1.01 and a 200-day moving average of $1.07. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.01.

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

Hedge Funds Weigh In On Cardiol Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tejara Capital Ltd increased its position in shares of Cardiol Therapeutics by 95.1% in the 4th quarter. Tejara Capital Ltd now owns 5,130,122 shares of the company’s stock valued at $4,893,000 after buying an additional 2,500,000 shares in the last quarter. Bank of America Corp DE grew its position in shares of Cardiol Therapeutics by 1,983.0% in the 3rd quarter. Bank of America Corp DE now owns 551,053 shares of the company’s stock valued at $590,000 after purchasing an additional 524,598 shares during the period. Integrity Alliance LLC. bought a new stake in Cardiol Therapeutics during the 4th quarter worth approximately $416,000. Citadel Advisors LLC boosted its holdings in shares of Cardiol Therapeutics by 1,132.6% in the third quarter. Citadel Advisors LLC now owns 463,462 shares of the company’s stock valued at $496,000 after buying an additional 425,862 shares during the period. Finally, Two Sigma Investments LP bought a new stake in shares of Cardiol Therapeutics during the third quarter worth $249,000. 12.49% of the stock is owned by institutional investors.

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.