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

HC Wainwright reaffirmed their buy rating on shares of Cardiol Therapeutics (NASDAQ:CRDL) in a report issued on Monday morning,Benzinga reports. The brokerage currently has a $9.00 price target on the stock.

Several other brokerages have also recently weighed in on CRDL. Rodman & Renshaw initiated coverage on Cardiol Therapeutics in a research note on Tuesday, January 28th. They set a “buy” rating and a $7.00 target price for the company. RODMAN&RENSHAW upgraded shares of Cardiol Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 28th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $8.40.

Cardiol Therapeutics Price Performance

NASDAQ CRDL opened at $1.18 on Monday. Cardiol Therapeutics has a 12 month low of $1.06 and a 12 month high of $3.12. The firm has a market capitalization of $97.48 million, a PE ratio of -3.03 and a beta of 0.91. The company’s 50 day simple moving average is $1.30 and its 200 day simple moving average is $1.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.49 and a quick ratio of 2.49.

Institutional Investors Weigh In On Cardiol Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of Cardiol Therapeutics during the third quarter valued at approximately $29,000. Townsquare Capital LLC purchased a new stake in shares of Cardiol Therapeutics in the third quarter valued at $27,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Cardiol Therapeutics in the third quarter worth $27,000. Lion Street Advisors LLC grew its holdings in shares of Cardiol Therapeutics by 12.6% during the fourth quarter. Lion Street Advisors LLC now owns 307,666 shares of the company’s stock valued at $396,000 after buying an additional 34,385 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Cardiol Therapeutics during the fourth quarter valued at $56,000. 12.49% of the stock is owned by institutional investors and hedge funds.

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.